As inflation rages on, Fed hopes August hiring report will show slowdown ...Middle East

Business Standard - Economy

Raging inflation has so scrambled the economy that it's come to this: If Friday's jobs report for August were to show a significant hiring slowdown, the Federal Reserve and even the White House would likely welcome it. The government is expected to report that employers added 300,000 jobs last month, according to a survey of economists by the data provider FactSet. That would be down from a blockbuster gain of 528,000 in July and an average of about 440,000 over the past three months. The unemployment rate is expected to remain at 3.5 per cent, FactSet says, matching a half-century low. The August jobs report will be issued at 8.30 am Eastern time. A weaker pace of hiring should help moder

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Last updated : 02 September 2022 clock 11:12 AM

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