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The US job market remains strong but is moderating, with 315,000 positions added in August

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The economy added 315,000 jobs in August, exceeding economists' expectations but far below July's blowout report, when employment surged by a revised 526,000 positions.

The nation's unemployment rate rose to 3.7% from 3.5%.

The monthly jobs total is a key data point for the Federal Reserve, which is battling the highest inflation in 40 years by implementing punishingly high rate hikes meant to slow the economy.

This story is developing and will be updated.

The-CNN-Wire

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