- home
- article
- US economy adds 142,000 jobs in August as labor market growth slows
US economy adds 142,000 jobs in August as labor market growth slows
ai generated text
The August US monthly payrolls figures came in below economists' estimates, with a reported increase of 142,000 jobs, compared to a forecast of 160,000 jobs. This follows a downward revision of July's initial jobs figure from 116,000 to 89,000, and a revision of June's payrolls figure from 179,000 to 118,000. The labor market data is significant as the US Federal Reserve prepares to cut interest rates for the first time since March 2020, and with the November election approaching, the state of the US economy is under scrutiny.
The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.
In other words, we don't know if payrolls were any different than zero in two of the last three months.
US Economy
- US Federal Reserve maintains pause in rate cuts amid uncertainty over inflation and unemployment risks
- US economy contracts in first quarter
- US President Trump reaffirms commitment to not terminating Federal Reserve chairman amidst ongoing economic disputes
