US adds 142K jobs in August, with Fed poised to cut rates ...Middle East

The US added 142,000 jobs in August and the unemployment rate ticked down to 4.2 percent, according to data released Friday by the Labor Department. The new report is in line with economists’ forecasts of 161,000 jobs and a 4.2 percent jobless rate, and will be closely watched as the Federal Reserve prepares to reduce interest rates by at least a quarter point amid concerns the agency is behind the curve on cuts as hiring and job gains slow. After holding interest rates at a 23-year high of 5.25 percent to 5.5 percent since last July, Fed Chair Jerome Powell declared the “time has come for policy to adjust” during a speech last month at the annual economic policy convening in Jackso

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Last updated : 06 September 2024 clock 03:58 PM

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US adds 142K jobs in August, with Fed poised to cut rates ...Middle East

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