After tonight's U.S. nonfarm payroll data came out
The U.S. labor market unexpectedly improved, and the Fed's expectations turned more hawkish
The U.S. added 162,000 jobs in August, far exceeding the expected range of about 53,000 to 65,000
The unemployment rate remained at 4.1%
Meanwhile, the labor force participation rate rose from 61.4% to 61.6%.
The wage data for the previous two months was revised up by a total of 55,000
Notably, July's figure was revised from -23,000 to +21,000, indicating the labor market was not as weak as initially reported
The jobs added were still concentrated in restaurants, bars, and local government education sectors
Average hourly earnings rose 0.3% month over month and 3.1% year over year
This suggests wage pressures did not accelerate in step with the strong jobs data
This stronger-than-expected report increases the likelihood that the Fed will maintain a cautious or more hawkish stance at its September meeting
The U.S. dollar and Treasury yields may receive support
While gold, cryptocurrencies, and rate-sensitive stocks may face additional pressure
#美国8月新增就业16.2万近预期三倍
The U.S. labor market unexpectedly improved, and the Fed's expectations turned more hawkish
The U.S. added 162,000 jobs in August, far exceeding the expected range of about 53,000 to 65,000
The unemployment rate remained at 4.1%
Meanwhile, the labor force participation rate rose from 61.4% to 61.6%.
The wage data for the previous two months was revised up by a total of 55,000
Notably, July's figure was revised from -23,000 to +21,000, indicating the labor market was not as weak as initially reported
The jobs added were still concentrated in restaurants, bars, and local government education sectors
Average hourly earnings rose 0.3% month over month and 3.1% year over year
This suggests wage pressures did not accelerate in step with the strong jobs data
This stronger-than-expected report increases the likelihood that the Fed will maintain a cautious or more hawkish stance at its September meeting
The U.S. dollar and Treasury yields may receive support
While gold, cryptocurrencies, and rate-sensitive stocks may face additional pressure
#美国8月新增就业16.2万近预期三倍
