Fed is hoping August hiring report will show slowdown

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — Raging inflation has so scrambled the economy that it’s come to this: If Friday’s jobs report for August were to show a significant hiring slowdown, the Federal Reserve — and even the White House — would likely welcome it. The government is expected to report that employers added 300,000 jobs last month, according to a survey of economists by the data provider FactSet. That would be down sharply from a blockbuster gain of 528,000 in July and an average of about 440,000 over the past three months. A weaker pace of hiring should help moderate wage increases and lift hopes that inflation pressures are starting to ease.