The U.S. August "NFP Lite" Falls Short of Expectations, Rate Cut Bet Remains Unchanged

BlockBeats News, September 4th, the number of hires by U.S. businesses in August was below expectations, consistent with other evidence indicating a weakening labor demand. ADP data showed that private sector employment increased by 54,000, about half of the previous month's gain. The report is in line with recent data showing a gradual cooling of the labor market, primarily characterized by reduced job openings and a slowdown in wage growth. Over the past few months, employment growth has noticeably slowed, and the time it takes for the unemployed to find new jobs has increased. Due to concerns about further weakness in the job market, Federal Reserve officials are expected to cut interest rates by 0.25 percentage points at this month's meeting. Following the release of the ADP data, traders maintained these bets. (FXStreet)