Official US Unemployment Rate Falls to 5.1%

[Frodo]

But wages stay flat:

Jobs Report Gives Ammunition to Both Sides of Fed Rate Debate

By NELSON D. SCHWARTZ and BINYAMIN APPELBAUM
SEPT. 4, 2015

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[Landslide Lyndon]

It would be foolish to raise interest rates. Not only are wages stagnant but the precipitous fall of oil prices seem to guarantee that inflation will stay way below target.

[muon2]

The upcoming fed decision will have to look at the mixed news in the labor market. The data suggests workers at the margins staying out of the market anticipating lack of employment. Raising the rate could shift some capital into savings which could spur lending and subsequent capital expansion, and presumably more jobs.