This is tough news for the Los Angeles Times to report:
U.S. employers added 156,000 jobs in August. Businesses remain confident in the economy.
Average hourly pay has risen just 2.5% over the 12 months ending in August.
Friday’s jobs report comes as Americans have grown more optimistic about the economy.
A measure of consumer confidence in August hit its highest level in 16 years, the Conference Board said this week.
Inflation is low. Consumer spending in July rose at its fastest pace in three months. The stock market is up 10% so far this year. One measure of factory orders suggests that business investment is increasing.