Employers in the US added 162,000 jobs in August, significantly surpassing analysts' forecasts. Meanwhile, the unemployment rate remained unchanged at 4.1%, refuting pessimistic predictions about a slowdown in the labor market.
The current growth appears uneven: the food service sector created 59,000 new jobs, and public education added 42,000 positions. In healthcare, hiring continues at a rate of 13,000 people, although the pace of hiring in this sector has slowed compared to the beginning of the year. At the same time, the information sector faced a serious stagnation, cutting 23,000 office positions, which indicates instability.
The average hourly wage increased by 0.3% compared to July, leading to an annual wage growth of 3.1%. These figures look good on paper, but they are likely lagging behind current inflation. This situation creates difficulties for the Federal Reserve, which is preparing for its September updates on the 16th-17th.
Investors are now closely watching the August inflation data, which will be published on September 11th. This CPI report will determine the next Fed decision—a hike or a cut. Currently, the probability of a 25 basis point rate hike in September is estimated at approximately 60%, reflecting traders' reaction to the latest server data.