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Non-Farm Payroll Data Confirms Softening Job Market, Laying Groundwork for Fed Rate Cut This Month
BlockBeats News, September 5th: In the U.S., the significant slowdown in August job growth led to an increase in the unemployment rate to 4.3%, confirming a weakening employment market and laying the groundwork for the Fed to cut interest rates this month.
The U.S. Bureau of Labor Statistics' employment report released on Friday showed that the August non-farm payroll only increased by 22,000, below the expected 75,000, while the July non-farm payroll was revised upward to an increase of 79,000. (FXStreet)
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