WASHINGTON -- The U.S. economy unexpectedly shed jobs in July and nonfarm payrolls for the prior two months were decreased sharply, raising questions about whether the Federal Reserve will increase interest rates next month.
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Nonfarm payrolls unexpectedly decline
The Labor Department's closely watched employment report Aug. 7 showed the unemployment rate decreasing to 4.1% this past month from 4.2% in June. But that was because another 264,000 people left the labor force, pushing the participation rate to a near-5.5-year low of 61.4%.
