Economy News Headlines

A job seeker fills out papers at a military job fair in San Francisco

U.S. labor market shows some muscle despite slower job growth

Reuters By Lucia Mutikani WASHINGTON (Reuters) - U.S. job growth slowed in August, but the unemployment rate dropped to a near 7-1/2-year low and wages accelerated, keeping alive prospects of a Federal Reserve interest rate hike later this month. Nonfarm payrolls increased 173,000 last month after an upwardly revised gain of 245,000 in July, the Labor Department said on Friday. August's gain wa…