Non-farm payrolls confirm a weakening job market, setting the stage for a Fed rate cut this month
3hours ago
According to Odaily Planet Daily, U.S. job growth slowed sharply in August, with the unemployment rate rising to 4.3%, confirming weakening labor market conditions and setting the stage for the Federal Reserve to cut interest rates this month. The U.S. Department of Labor's Bureau of Labor Statistics' employment report released Friday showed that nonfarm payrolls increased by only 22,000 in August, compared with expectations for a 75,000 increase. July's nonfarm payrolls were revised upward to 79,000. (Jinshi)
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