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Armstrong headed AOL from 2009 to 2015, and was instrumental in the company reporting its first quarterly revenue growth in eight years in 2013. “It’s just a mismatch between a large, bureaucratic corporate culture and an entrepreneurial, decentralized, flat culture DNA of Tim Armstrong,” said Raj Das at executive search firm Buffkin/Baker. Last year, Verizon had shown interest in acquiring a significant part of Rupert Murdoch’s Twenty-First Century Fox Inc’s assets, which was finally sold to Walt Disney Co.

WASHINGTON (Reuters) - U.S, job growth accelerated in August and wages notched their largest annual increase in more than nine years, the clearest signs that the economy was so far weathering the Trump administration’s escalating trade war with China, The Labor Department’s closely watched employment report published on Friday also showed slack in the jobs market was rapidly diminishing, with a broader measure of unemployment real pearl cufflinks falling to a level not seen since 2001, The report cemented expectations for a third interest rate increase from the Federal Reserve this year when policymakers meet on Sept, 25-26..

Analysts say the administration’s $1.5 trillion tax cut package and increased government spending were shielding the economy from the trade tensions, which have also seen Washington engaged in tit-for-tat tariffs with other trade partners, including the European Union, Canada and Mexico. “With the tax cuts and spending increases creating a sugar high, there is little reason to expect labor demand to moderate over the rest of this year or even in the first half of next,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania.

Nonfarm payrolls surged by 201,000 jobs last month, boosted by hiring at construction sites, wholesalers and professional and business services, the Labor Department said, There were also real pearl cufflinks gains in transportation and healthcare employment, (Graphic: U.S, wage growth accelerated in August:, Average hourly earnings increased 0.4 percent, or 10 cents in August after rising 0.3 percent in July, That raised the annual increase in wages to 2.9 percent in August, the largest gain since June 2009, from 2.7 percent in July..

Wage growth has been the labor market’s Achilles heel and last month’s increase fit in with economists’ expectations that inflation will continue to bounce around the Fed’s 2 percent target for the remainder of this year and into early 2019. “Even if we were to see a reversal of some of the monthly wage gains, short of a collapse, current levels support the Fed’s symmetric 2 percent inflation target,” said Marvin Loh, senior global market strategist at BNY Mellon in Boston. “The market fully expects another hike in September.”.

(Graphic: U.S, unemployment is near the lowest in 18 years:, A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment, fell one-tenth of a percentage point to 7.4 percent in August, the lowest level since April 2001, The real pearl cufflinks unemployment rate was unchanged at 3.9 percent, Economists polled by Reuters had forecast nonfarm payrolls increasing by 191,000 jobs last month and the unemployment rate falling to 3.8 percent, The economy created 50,000 fewer jobs in June and July than previously reported..

Job growth averaged 185,000 per month in the past three months. The economy needs to create 120,000 jobs per month to keep up with growth in the working-age population. The dollar rallied against a basket of currencies on the report, while U.S. Treasury yields rose. Stocks on Wall Street were trading lower. The employment report added to manufacturing and services industries surveys in suggesting the Trump administration’s protectionist trade policy was having a marginal impact on the economy for now. The economy grew at a 4.2 percent annualized rate in the second quarter, almost double the 2.2 percent pace set in the January-March period.

Economists said the import duties implemented so far have affected only a small portion of the American economy, but warned this could change if President Donald Trump pressed ahead with additional tariffs on Chinese imports, real pearl cufflinks The United States and China have slapped retaliatory tariffs on a combined $100 billion of products since early July, Trump on Friday said he was ready to impose tariffs on another $267 billion in Chinese goods, in addition to a $200 billion tariff list that is awaiting his decision, The tariffs on an additional $467 billion would raise duties on virtually all U.S, imports from China..

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