NATION
SATURDAY, SEPTEMBER 7, 2013
THE ITEM
A5
U.S. employers add 169K jobs; jobless rate falls to 7.3 percent WASHINGTON (AP) — U.S. employers have yet to start hiring aggressively — a trend the Federal Reserve will weigh in deciding this month whether to slow its bond buying and, if so, by how much. Employers added 169,000 jobs in August but many fewer in June and July than previously thought, the Labor Department said Friday. Combined, June, July and August amounted to the weakest three-month stretch of job growth in a year. The unemployment rate dropped to 7.3 percent, the lowest in nearly five years. But it fell because more Americans stopped looking for work and were no longer counted as unemployed. The proportion of Americans working or looking for work reached its lowest point in 35 years. All told, the report adds up to a mixed picture of the U.S. job market: Hiring is steady but subpar. Much of the hiring is in lower-paying
occupations. And many people are giving up on the job market in frustration. The jobs picture is sure to weigh heavily when the Fed meets Sept. 17-18 to discuss whether to scale back its $85 billion a month in Treasury and mortgage bond purchases. Those purchases have helped keep home loan and other borrowing rates ultra low to try to encourage consumers and businesses to borrow and spend more. David Jones, chief economist at DMJ Advisors, said he still thinks the Fed will begin slowing its bond buying later this month. But he suspects the August data and the reduced job totals for June and July will lead the Fed to trim more gradually than it would have otherwise: The Fed could start reducing its monthly purchases by $10 billion rather than $20 billion. Jones said he expects periodic reductions of $10 billion between now and mid2014. At that point, Chair-
THE ASSOCIATED PRESS
People check out opportunities during a job fair in Miami Lakes, Fla., on Aug. 14. U.S. employers added 169,000 jobs in August, and the unemployment rate dropped to 7.3 percent, the lowest in nearly five years, according to the Labor Department on Friday.
man Ben Bernanke has said the Fed expects the bond buying could likely end. The revised job growth for June and July shrank the previously estimated gain for those months by 74,000. July’s gain is now estimated at 104,000 — the fewest in more than a year and down from a previous estimate of 162,000. June’s was revised to 172,000 from 188,000.
In the past three months, employers have added an average of just 148,000 jobs. The average monthly gain for 2013 so far is 180,000, slightly below the 183,000 average for 2012. Stock prices shifted between gains and losses in morning trading as investors weighed the job report’s impact on the Fed and tensions over the prospect of
U.S. military action against Syria. The Dow Jones industrial average rose about 30 points. The yield on the 10-year Treasury note fell to 2.92 percent, from 2.95 percent before the jobs report was released at 8:30 a.m. Investors may think the report makes it less likely the Fed will significantly slow its bond purchases.
Hackers find weaknesses in cars’ computer systems They control everything DETROIT (AP) — As from the brakes to accelcars become more like PCs on wheels, what’s to eration to the windows and are connected to an stop a hacker from takinternal network. A few ing over yours? hackers have recently In recent demonstramanaged to find their tions, hackers have way shown into they these can intrislam a cate car’s netbrakes works. at freeIn way one speeds, case, a jerk the pair of steering hackwheel ers maand nipueven lated shut two down cars by the engine — THE ASSOCIATED PRESS plugall from Master diagnostic technician Kurt ging a their Juergens uses a laptop computer to laptop laptop diagnose and repair the brake sys- into a comtem on a 2010 Toyota Prius in the port puters. repair shop of a Toyota dealership, beThe in Norwood, Mass., in 2010. A pair of neath hackers hackers maneuvered their way into the are the computer systems of a 2010 dashpubliToyota Prius and 2010 Ford Escape board cizing through a port used by mechanics. where metheir chanics connect their work to reveal vulnerabilities present in a grow- computers to search for problems. Scarier yet, ing number of car comanother group took conputers. All cars and trucks contain anywhere trol of a car’s computers from 20 to 70 computers. through cellular tele-
phone and Bluetooth connections, the compact disc player and even the tire pressure monitoring system. To be sure, the “hackers� involved were wellintentioned computer security experts, and it took both groups months to break into the computers. And there have been no real-world cases of a hacker remotely taking over a car. But experts say high-tech hijackings will get easier as automakers give them full Internet access and add computer-controlled safety devices that take over driving duties, such as braking or steering, in emergencies. Another possibility: A tech-savvy thief could unlock the doors and drive off with your vehicle. “The more technology they add to the vehicle, the more opportunities there are for that to be abused for nefarious purposes,� said Rich Mogull, CEO of Phoenixbased Securosis, a security research firm. “Anything with a computer chip in it is vulnerable, history keeps showing us.� In the last 25 years,
COME AND SEE!
automakers have gradually computerized functions such as steering, braking, accelerating and shifting. Electronic gas pedal position sensors, for instance, are more reliable than the old throttle cables. Electronic parts also reduce
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lasek, director of intelligence at a Pittsburgh computer security consulting firm, maneuvered their way into the computer systems of a 2010 Toyota Prius and 2010 Ford Escape through a port used by mechanics.
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