Booming Jobs: Economy Adds 162,000 Payrolls, Boosting Fed Hike Bets (UPDATED)
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.
Way more people got jobs than experts thought, which might make the Federal Reserve (the bank that sets interest rates) raise borrowing costs next month. When jobs are strong, it can help companies and workers but also makes money more expensive to borrow.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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