Total nonfarm payroll employment increased by 173,000 in August, and the unemployment rate edged down to 5.1 percent, the U.S. Bureau of Labor Statistics reported. Job gains occurred in health care and social assistance and in financial activities. Manufacturing and mining lost jobs.

The economy added 96,000 jobs in August – enough to lower the unemployment rate to 8.1 percent, but not enough to meet most economists’ predictions of 125,000 new jobs.

The House yesterday approved a bill that would prevent federal agencies from implementing any new business regulations until the unemployment rate returns to 6 percent – a level if hasn’t been at in the last 15 quarters.

Germany: Average working hours per week: 25.6. Average wage per hour: $35.33 (7th highest)