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![The latest jobs report came below forecasts [Xinhua]](http://thebricspost.com/wp-content/uploads/2014/03/222232299_8-e1394201763660.jpg)
The latest jobs report came below forecasts [Xinhua]
Now you don’t.
We’re talking about the likelihood of an interest rate hike in September, or October for that matter.
Official data and analytics about the US economy continue to be uneven.
On the one hand, consumer spending in consumer confidence is high, and unemployment is low.
On the other, if we overlook the low productivity and exports levels for the moment, the labor market appears to be on a roller coaster ride.
On Friday, the Department of Labor said the US economy added 151,000 non farm payroll jobs in August – below the 180,000 level expected by most markets.
That’s a considerable contrast to the July figures which were revised up from 255,000 to 275,000 new jobs.
Market also expected the unemployment rate to fall from 4.9 to 4.8 per cent. However, it held steady at 4.9 per cent.
US stocks closed higher on Friday by an average 0.4 per cent after the jobs report because markets now anticipate that the new data will restrict the Federal Reserve from increasing interest rates in the coming two months.
The BRICS Post with inputs from Agencies
