U.S. nonfarm payroll growth slowed in August, with the unemployment rate rising to its highest level since 2021
ChainCatcher news, according to Golden Ten Data, U.S. employment growth in August slowed significantly, with non-farm payrolls increasing by 22,000 and the unemployment rate rising to its highest level since 2021, sparking concerns about a deteriorating labor market. The Bureau of Labor Statistics report showed that employment numbers declined for the first time in June, and July's data was also shocking. In recent months, both job vacancies and wage growth have slowed, putting pressure on economic activity. Traders continue to bet that the Federal Reserve will cut interest rates at the September meeting.
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