Economy: 162,000 new jobs – US job market recovering
In July, a surprisingly large number of jobs in the US had been lost. Now the labor market is showing itself to be significantly more robust. This is likely to have an impact on interest rate expectations.
The US job market saw a significant recovery in August, with 162,000 new jobs created, according to a government report. This exceeded the 56,000 expected by economists polled by Reuters, following a surprise loss of 23,000 jobs in July. The unemployment rate remains at 4.1 percent, in line with expert predictions. The data is crucial for the Federal Reserve's monetary policy decisions, with Fed Chair Kevin Warsh describing the job market as "fairly stable" but expressing concerns about high inflation.
The Fed is set to meet in mid-September, and financial markets are speculating about a potential interest rate hike.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
