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Stocks Wobble After a Surprisingly Strong Jobs Report Raises Prospects of an Interest Rate Hike
Markets now see a 52.6% chance of a Federal Reserve increase after nonfarm payrolls rose 162,000, the Bureau of Labor Statistics said.
- On Friday, the Labor Department's Bureau of Labor Statistics reported that nonfarm payrolls surged by 162,000 jobs in August, while the unemployment rate held steady at 4.1%, signaling labor market resilience.
- Private companies added just 38,000 jobs last month, falling short of analyst expectations of 47,000, according to the ADP report released earlier this week, marking the slowest pace since January.
- Wage growth remained steady at 3.1% compared to a year earlier, while the number of people unemployed for 27 weeks or more increased by 159,000, revealing mixed employment signals.
- Market expectations for a Federal Reserve quarter-point rate hike in two weeks rose to 59% following the report, according to the CME Group's FedWatch tool, up from 52% earlier.
- Josh Stevens, Chief Investment Officer at Cresalta Investment Management, said the Fed's focus will shift to inflation data next week, which remains the primary driver of near-term policy decisions.
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36 Articles
36 Articles
abc 6 PhiladelphiaReposted by 
abc 7 LA
abc 7 LAHiring blew past expectations in August, jobs report shows
A jobs report on Friday provided a key gauge of the U.S. economy as shoppers weather elevated inflation and central bankers weigh a possible interest rate hike.
·Philadelphia, United States
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If employment goes well, the US Federal Reserve (Fed) will focus on the fight against inflation, which is high, so the prospect of rising interest rates is approaching.
·Paris, France
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Coverage Details
Total News Sources36
Leaning Left5Leaning Right8Center11Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 21%
C 46%
R 33%
Factuality
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