U.S. Jobs Data Misses Expectations

Once again, the U.S. labor market has underperformed, with August nonfarm payrolls coming in at 142K, well below the expected 165K. While the unemployment rate held steady at 4.2%, matching forecasts, the weaker job growth pressures the Federal Reserve to act. I expect a 25 basis point rate cut in September meanwhile markets are begging for 75 bps.

#USEconomy #FedPolicy #InterestRates #JobMarket #NonfarmPayrolls #EconomicTrends