U.S. adds 173,000 jobs in August as unemployment falls to seven-year low

The pace of hiring in the United States took a turn for the worse in August, but the dropoff probably wasn’t weak enough to force the Federal Reserve to reconsider plans to raise interest rates this year. The U.S. added a seasonally adjusted 173,000 jobs last month and the unemployment rate fell to 5.1%, the lowest level since April 2008.