Reported about 21 hours ago
The August jobs report revealed only 22,000 jobs were added, indicating a significant slowdown in the labor market, following a revision that removed 279,000 jobs from previous months. Economists note that while the labor market isn't collapsing, it shows signs of softening, prompting expectations for interest rate cuts by the Federal Reserve. With unemployment outpacing job openings and private-sector job additions halving from July, market responses include adjustments in rate-cut predictions and cautious sentiment towards future economic conditions.
Source: YAHOO