US creates weaker-than-expected 151,000 jobs in August

US job creation slowed in August, adding 151,000 new positions for the month, according to data released Friday by the Labor Department. While the economy continued to create jobs, the total represented a precipitous drop from July's revised total of 275,000 and was also well below analyst expectations. The unemployment rate remained steady at 4.9 percent for the third month in a row, with the number of long-term unemployed unchanged at 2 million people.