U.S. job market slows, but it’s not yet a ‘three-alarm fire,’ economist says

Key Points

Employers added 142,000 jobs in August, less than expected. The unemployment rate declined to 4.2%, according to the Bureau of Labor Statistics jobs report.
The U.S. job market has slowed considerably over the past year or so. The Federal Reserve has raised interest rates to tame inflation.
If the labor market continues to cool at this rate, the economy would likely be at risk of recession, economists said.

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