US economy in August adds slightly more jobs compared to last month, jobless rate drops to 4.2%

The Labor Department reported Friday the U.S. economy in August added 142,000 jobs and the unemployment rate for the month was 4.2%, the first monthly drop since March. 

Hirings last month also increase since July, when the number was a slight 89,000, according to the Associated Press. 

The unemployment rate in July was 4.3%, which had been the highest in nearly three years, the wire service also reported.

Economists say the numbers are a sign of a slowing job market, struggling under high interest rates.