Less Hiring Probably Kept U.S. Jobless Rate Elevated in August
Payrolls probably rose at a slower pace in August, keeping unemployment in the U.S. above 8 percent for a 43rd month, economists said before a report today.
An additional 130,000 workers were taken on last month following a 163,000 increase in July, according to the median forecast of 92 economists surveyed by Bloomberg. The jobless rate may have held at 8.3 percent, the survey showed.
Employers may be reluctant to expand headcounts as they face a global economic slowdown and the so-called fiscal cliff of automatic tax increases and government spending cuts. The damage inflicted by the lack of progress on jobs is the reason Federal Reserve Chairman Ben S. Bernanke last week said the central bank made the case for further easing.
“Hiring will be held in check by the tremendous amount of uncertainty this year,