The economic picture is contradictory, with the healthy pace of hiring and low unemployment at odds with estimates that the economy shrank in the first half of 2022.
WASHINGTON — America’s employers slowed their hiring in August in the face of rising interest rates, high inflation and sluggish consumer spending, all of which weakened the outlook for the economy.
The government reported Friday that the economy added 315,000 jobs last month, down from 526,000 in July and below the average gain of the previous three months. The unemployment rate rose to 3.7%, from a half-century low of 3.5% in July, as more Americans came off the
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