Jobless Rate Hits 7-Year Low

The U.S. unemployment rate fell to 5.1 percent in August for a seven-year low, though hiring was the lowest it's been in five months with 173,000 jobs created for the month, The Associated Press reported.

Still, the economy has generated a strong 221,000 jobs a month from June through August, according to government revisions.

Steady hiring could encourage the Fed to raise interest rates for the first time in a decade at a meeting later this month.

But that's not a sure thing with a low inflation rate and sluggish growth in China complicating the decision, according to the AP.

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