Employers added 142,000 jobs in August

WASHINGTON (NEXSTAR) — According to new federal data, the U.S. gained a modest 142,000 jobs in August, leaving many economists confident an interest rate cut is coming soon.

It marks the third straight month of lower-than-expected gains.

“There is absolutely a cooling going on in the job market,” Bankrate Senior Economic Analyst Mark Hamrick said.

Hamrick predicts the cooldown could mean a more drastic interest rate cut at the Federal Reserve’s meeting this month.

The White House is staying out of the Federal Reserve’s decision-making, but lead White House Economist Jared Bernstein said a rate cut could be good news for middle-income families.

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