United States: Solid jobs data support steady Fed – Commerzbank
Commerzbank’s Dr. Christoph Balz notes that the U.S. labor market surprised to the upside in August, with Nonfarm Payrolls and private sector jobs both rising strongly while the unemployment rate held at 4.1%. Wage growth continued to slow.
In August, the U.S. labor market delivered stronger-than-expected results, with Nonfarm Payrolls and private sector jobs both exceeding forecasts. The unemployment rate remained steady at 4.1%, suggesting the economy is at full employment. Commerzbank's Dr. Christoph Balz pointed out that wage growth is slowing down. The Federal Reserve, under the leadership of Chairman Warsh and Governor Waller, will now closely examine August consumer price data before making a decision on September 15-16. The bank anticipates no rate change but the risk of a rate increase has risen.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
