2 September 2005, 16:58  U.S. Aug. payrolls rise 169,000; jobless rate falls to 4.9%

U.S. job growth rose at steady clip in August, pushing the unemployment rate to a four-year low of 4.9%, the Labor Department said Friday. Nonfarm payrolls increased by a seasonally adjusted 169,000 in August, below the 197,000 expected by economists. However, upward revisions totaling 44,000 in prior months put total employment slightly higher than expected. Average hourly earnings increased by 2 cents, or 0.1%, to $16.16 an hour. The average workweek was flat at 33.7 hours, while total hours worked in the economy increased by 0.1%.

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