US Change in Nonfarm Payrolls Aug: 162K (est 55K; prev -23K, prevR 21K)
- Unemployment Rate: 4.1% (est 4.1%; prev 4.1%)
- Avg Hourly Earnings (M/M): 0.3% (est 0.3%; prev 0.1%)
- Avg Hourly Earnings (Y/Y): 3.1% (est 3.1%; prev 3.2%)
US stocks and bonds declined after a remarkably strong August jobs report fueled speculation that the Federal Reserve will raise interest rates this year. The labor market showed unexpected momentum as the US added 162,000 nonfarm payrolls last month, significantly surpassing economic forecasts. Alongside this robust job growth, the national unemployment rate held steady at 4.1 percent. Consequently, Treasury yields advanced and the US dollar strengthened.
Source: XTB
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