- August nonfarm payrolls topped all estimates in a Bloomberg survey, while the unemployment rate held steady at 4.1%.
- The jobs report strengthened the case for a Fed rate hike later this month but did not settle the decision because it showed no additional labor-market pressure on prices.
- Analysts continue to expect next week’s inflation data to determine the Fed’s next rate decision.
Quotes
“A surprise jump in US hiring last month has bolstered the case for the Federal Reserve to raise interest rates when they meet later this month, but a hike is still not guaranteed.”
“Nonfarm payrolls in August topped all estimates in a Bloomberg survey, and the unemployment rate held steady at 4.1%.”