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US August Non-Farm Payrolls Below Expectations, Rate Cut Bets Unchanged
Summary: According to reports from FXStreet, the number of new hires by US companies in August was lower than expected, consistent with other evidence indicating a weakening labor demand. ADP data shows that private sector employment increased by 54,000, about half the growth rate of the previous month. This report is in line with recent data, ...
According to reports from FXStreet, the number of new hires by US companies in August was lower than expected, consistent with other evidence indicating a weakening labor demand. ADP data shows that private sector employment increased by 54,000, about half the growth rate of the previous month. This report is in line with recent data, showing a gradual cooling of the job market, mainly characterized by a decrease in job vacancies and a slowdown in wage growth. In recent months, job growth has significantly slowed down, with unemployed individuals taking longer to find new jobs. Due to concerns about further weakness in the job market, Federal Reserve officials are expected to cut rates by 0.25 percentage points at this month's meeting. Traders maintained these bets after the ADP data was released.
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Link: US August Non-Farm Payrolls Below Expectations, Rate Cut Bets Unchanged [Copy]
