U.S. employment weakens in August as the economy adds only 130,000 jobs

The U.S. economy added 130,000 jobs in August, after July’s downwardly revised 159,000 advance, according to the Bureau of Labor Statistics. That bolsters the case for a rate cut at the Federal Reserve’s meeting later this month. Realtor.com Senior Economist George Ratiu said new jobs numbers signal that companies remain cautiously optimistic about this year’s economic outlook and are taking a more measured approach to hiring.