Payrolls Rose 315,000 in August

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Published on September 2, 2022 - Duration: 01:30s

Payrolls Rose 315,000 in August

Payrolls Rose , 315,000 in August.

CNBC reports nonfarm payrolls rose last month slightly below the 318,000 Dow Jones estimate.

The unemployment rate hit 3.7%, which was higher than expected.

Average hourly wages continued to rise, hitting 5.2% compared to a year ago.

There’s something for everybody in this report.

This report supports the Fed’s ability to engineer a soft landing.

Markets like it, Michael Arone, chief investment strategist at State Street Global Advisors, via CNBC.

CNBC reports that the jobs market has stayed strong amid rampant inflation and increased cost of living.

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This is a unique period of time, where we have still a relatively tight labor market, where there is still job growth, but companies have started to announce hiring freezes, some companies have announced layoffs, Liz Ann Sonders, chief investment strategist at Charles Schwab, via CNBC.

This could very likely be a recession were you don’t see the kind of carnage in the labor market that you see in most recessions, Liz Ann Sonders, chief investment strategist at Charles Schwab, via CNBC.

The Fed has indicated that interest rates will remain elevated "for some time.".

[The jobs report is] not strong enough to get them to be more aggressive in terms of rate hikes, and not weak enough to have them slow down.

I don’t think today’s jobs report changes anything about the path the Fed was on, Michael Arone, chief investment strategist at State Street Global Advisors.

[The jobs report is] not strong enough to get them to be more aggressive in terms of rate hikes, and not weak enough to have them slow down.

I don’t think today’s jobs report changes anything about the path the Fed was on, Michael Arone, chief investment strategist at State Street Global Advisors


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