Booming Jobs: Economy Adds 162,000 Payrolls, Boosting Fed Hike Bets
US payrolls jumped 162,000 in August, far above the 56,000 consensus, while unemployment held at 4.1%. Fed rate hike odds are in play for Sept. 16.
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Why It Matters
More people got jobs than experts thought, which means the economy is stronger. When the economy is strong, the bank (Federal Reserve) might raise the interest rate they control, which can affect how much it costs to borrow money.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
Disclosure: Educational and informational purposes only — not financial advice. We educate, not advise. Market data may be delayed up to 15 minutes unless marked real-time. Past performance is not indicative of future results.