Here were the key employment figures from August, compared to Bloomberg-compiled estimates:
Investors cheered and stock futures rose as the weaker-than-expected jobs report all but cemented the possibility of a second interest rate cut. The August jobs report comes at a critical time, as trade tensions, slowing global growth and overall uncertainty keep investors on edge. August was a brutally volatile month for the stock market with wild swings in both directions.
Morgan Stanley economist Ellen Zenter predicted that the U.S. economy would add a cool 181,000 jobs in August. “Most key data on the labor market for August out so far have sent rather positive signals,” Zenter wrote in a note to clients Thursday. For one, in the July survey week, initial jobless claims continued to run at low levels and there were no particular indications that the rate of hiring might have slowed markedly.
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