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American employers added 187,000 jobs in August, evidence of a slowing but still-resilient labor market despite the high interest rates the Federal Reserve has imposed. Last month’s job growth marked an increase from July’s revised gain of 157,000 but still pointed to a moderating pace of hiring compared with the sizzling gains of last year and earlier this year. The unemployment rate rose from 3.5% to 3.8%, the highest level since February 2022 though still low by historical standards. But the rate rose for an encouraging reason: A sizable number of people began looking for work last month, the most since January, and not all of them found jobs right away.

Santa monicaUnited statesNew yorkPeter mannAndrew hunterGus faucherMike hallidayFinancial services groupFederal reserveLabor departmentCapital economicsTerryo day