130,000 jobs were created in the U.S. last month — falling short of Wall Street estimates.
"If we weren't already talking about recession risk and already looking for signs of a slowdown, we wouldn't start today because of this jobs report," said Scott Clemons, chief investment strategist at Brown Brothers Harriman.
With the previous June and July reports revised lower as well, monthly job growth in the U.S. has slowed to just 158,000, compared with 223,000 per month a year ago. Revisions to previous months' counts saw June cut from 193,000 to 178,000 while July fell from 164,000 to 159,000. That brought the three-month average down to 156,000.
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