August Jobs Report

U.S. job growth in August fell short of expectations with 142,000 new jobs added, compared to the forecast of 160,000, and July's job growth was revised down to 89,000. The unemployment rate decreased to 4.2% from 4.3% in July. Average hourly earnings rose 0.4%, surpassing expectations.

Coindesk said that the data suggests the Fed is more likely to implement a 25 basis point rate cut rather than a 50 basis point cut at its upcoming meeting.

Source: Coindesk