On September 5, the U.S. job growth in August significantly slowed, with the unemployment rate rising to 4.3%, confirming that the labor market is weakening and laying the groundwork for the Fed to cut interest rates this month. The employment report released by the U.S. Department of Labor's Bureau of Labor Statistics on Friday showed that non-farm employment in August increased by only 22,000, compared to an expected increase of 75,000, while the non-farm employment in July was revised up to an increase of 79,000. ( Jin10 )
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Non-farm payrolls confirm the labor market is weakening, laying the groundwork for a rate cut by the Fed this month.
On September 5, the U.S. job growth in August significantly slowed, with the unemployment rate rising to 4.3%, confirming that the labor market is weakening and laying the groundwork for the Fed to cut interest rates this month. The employment report released by the U.S. Department of Labor's Bureau of Labor Statistics on Friday showed that non-farm employment in August increased by only 22,000, compared to an expected increase of 75,000, while the non-farm employment in July was revised up to an increase of 79,000. ( Jin10 )