Job creation in the US slowed in August, indicating that the strong economy could be starting to weaken under pressure from higher interest rates. Private employers added 177,000 jobs, well below the previous month's total of 371,000. Pay growth also slowed, suggesting more sustainable growth as the effects of the pandemic recede. Investors and economists remain uncertain about the future of US inflation and whether the economy can continue to grow without a significant slowdown.
The US economy added 177,000 jobs in August, slightly below expectations, but indicating sustainable growth in pay and employment as the effects of the pandemic diminish.
The US added 187,000 jobs in August, but the unemployment rate rose to 3.8 percent, indicating a plateau in the labor market as the Federal Reserve considers another interest rate hike.
The unemployment rate in Canada remained steady at 5.5% in August, while employment saw a net increase of 39,900 and average hourly wages rose by 4.9%. The Canadian dollar experienced a bearish reaction to the jobs report, with the USD/CAD pair losing 0.5% on the day.
The Canadian economy has entered a long-delayed recession due to highly indebted households, overvalued home prices, and a slowdown in consumer spending, with the recession expected to last until the first quarter of 2024 and result in a 1.5% decline in GDP and an increase in the unemployment rate to 7.2%.
Canada recorded a surprise trade surplus of C$718 million ($521.88 million) in August, fueled by increases in exports of precious metals and energy products, as well as higher crude prices and gold transfers to the United States.
The US economy added 336,000 jobs in September, surpassing economist predictions and causing a slight dip in the price of bitcoin, while stock and bond prices continue to decline.
US job growth exceeds expectations, with 336,000 jobs added in September, increasing the likelihood of further rate hikes by the Federal Reserve, while in Canada, job gains of 63,800 in September and soaring wages also raise the chances of another rate hike.
The US economy added 336,000 jobs in September, surpassing economists' expectations, raising concerns that the labor market may not cool as fast as the Federal Reserve desires in their battle against inflation.
The U.S. economy added 336,000 jobs in September, surpassing expectations, prompting concerns about the need for further measures to slow down the economy and control inflation.
The US economy added 336,000 jobs in September, surpassing expectations and leading to concerns about higher interest rates and inflation, causing the dollar to rise and stocks to fall.
U.S. employers added 336,000 jobs in September, potentially strengthening the case for another interest rate increase by the Federal Reserve, despite wage growth remaining muted and upcoming inflation data expected to show continued slowing.
The September jobs report showed the addition of 336,000 jobs and no change in the unemployment rate at 3.8%, exceeding expectations and indicating a strong job market amidst economic headwinds.
U.S. employers added 336,000 jobs in September, surpassing expectations, but the strong job growth could complicate the Federal Reserve's efforts to control inflation.
