The August jobs report from the U.S. Labor Department was out Friday morning. It was soft, as the August report is historically, missing the consensus economist expectation by about 25,000, but steady. Here's The New York Times report:

Capping two consecutive months of hearty jobs gains, hiring eased in August, with the government reporting on Friday that employers expanded their payrolls by 151,000 workers. The temperate performance is expected to bolster those within the Federal Reserve who favor a wait-and-see approach toward raising the benchmark interest rate when the central bank meets later this month.

The official unemployment rate, based on a separate survey of households, remained at 4.9 percent. Average hourly earnings declined 0.1 percent.

This report reflects only a single month of the labor market’s performance, but it offers the last major piece of economic news before the central bank’s scheduled gathering on Sept. 20 and 21.

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