Non-farm Payrolls Rise in US, But Off Expectations

Non-farm Payrolls Rise in US, But Off ExpectationsGold Silver Reports — Non-farm Payrolls Rise in US, But Off Expectations — US employment growth slowed more than expected in August after two straight months of robust gains and wage gains moderated, which could effectively rule out an interest rate increase from the Federal Reserve this month.

Non-farm payrolls rose by 151,000 jobs last month after an upwardly revised 275,000 increase in July, with hiring in manufacturing and construction sectors declining, the Labor Department said on Friday. The unemployment rate was unchanged at 4.9% as more people entered the labour market.

Economists polled by Reuters had forecast payrolls rising 180,000 last month and the unemployment rate slipping one-tenth of a percentage point to 4.8%.Last month’s jobs gains, however, could still be sufficient to push the Fed to raise interest rates in December. The rise in payrolls reinforces views that the economy has regained speed after almost stalling in the first half of the year.

The report comes more than two weeks before the US central bank’s September 20-21 policy meeting. — Neal Bhai Reports

Non-farm Payrolls Rise in US, But Off Expectations

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