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Hiring slowed in August as US employers added just 142K jobs; rate dips to 6.1 pct.

U.S. employers added just 142,000 jobs in August, snapping a six-month streak of hiring above 200,000 and posting the smallest gain in eight months.

The Labor Department says the unemployment rate fell to 6.1 percent from 6.2 percent. But the rate dropped because fewer people were working or seeking jobs.

Employers also added 28,000 fewer jobs in June and July than the government had previously estimated.

August's job gains were far below the average monthly increase of 212,000 in the past 12 months. The slowdown was unexpected after most recent economic data suggested that the economy is growing at a healthy pace.

Still, wage gains have been sluggish since the Great Recession ended in 2009, and consumers remain cautious. Consumer spending dipped in July, the first decline since January.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.90% up 3.89%  
15 Y Fixed Graph 2.96% up 2.93%  
30 Y Fixed Jumbo Graph 4.27% up 4.23%  
5/1 ARM Graph 3.19% up 3.11%  
5/1 Jumbo ARM Graph 3.84% up 3.71%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.41% up 4.38%  
$50K HELOC Graph 4.07% up 4.06%  
$30K Loan Graph 4.55% -- 4.55%  
$50K Loan Graph 4.21% up 4.20%  
$75K Loan Graph 4.21% up 4.20%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.08% -- 3.08%  
36 M Used Graph 3.29% dw 3.30%  
48 M New Graph 3.06% -- 3.06%  
48 M Used Graph 2.96% -- 2.96%  
60 M New Graph 3.13% -- 3.13%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.37% up 0.36%  
1 yr Graph 0.61% -- 0.61%  
5 yr Graph 1.44% dw 1.48%