Private Payrolls in U.S. Climb Less than Forecast in August
Economists in August estimated that there would be an increase in employment in the private sector by 220,000, but in reality only 204,000 new workers were employed. Even with these new jobs being added wage rates have not changed so there has been little economic growth and minimal gains in consumer spending. As this happens the Federal Reserve has slowed its bond-buying in recent months spending only $25 billion in July.
See "Private Payrolls in U.S. Climb Less than Forecast in August", Victoria Stilwell, Bloomberg News, September 3, 2014