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US unemployment rate spikes to 3.8%; labor market still has momentum

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US unemployment rate spikes to 3.8%; labor market still has momentum

Nonfarm payrolls increase 187,000 in August Unemployment rate rises to 3.8% from 3.5% in July Average hourly earnings gain 0.2%; up 4.3% year-on-year WASHINGTON, Sept 1 (Reuters) – U.S. job growth picked up in August, but the unemployment rate jumped to 3.8% and wage gains moderated, suggesting that labor market conditions were easing and cementing … Read more

US housing starts surge in boost to economy

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US housing starts surge in boost to economy

Single-family housing starts increase 6.7% in July Single-family building permits rise 0.6% Overall housing starts climb 3.9%; permits gain 0.1% Manufacturing production increases 0.5% WASHINGTON, Aug 16 (Reuters) – U.S. single-family homebuilding surged in July and permits for future construction rose amid an acute shortage of previously owned houses, but mortgage rates climbing back to … Read more