The U.S. Department of Labor reported this morning that 374,000 Americans applied for unemployment benefits last week.
Jennifer Lee, an economist at BMO Capital Markets, told the Associated Press that "job growth continued in August, but at a slower rate than July’s pop. So job growth there shall be, but not strong enough."
Job growth has been sluggish through much of the summer—the U.S. added 163,000 jobs in July. The unemployment rate ticked up from 8.2 to 8.3 percent.