Wall Street reacts to today's NFP report: 25 or 50bps cut by the Fed?
by 142,000 in August, a figure that fell short of the anticipated 161,000 jobs. The report also highlighted a slight decrease in the unemployment rate to 4.2%, aligning with expectations.
July's job gains were slashed by 25,000, bringing the total down from the initial report. Moreover, June's figures were significantly revised, showing a decrease of 61,000 to a new total of 118,000 jobs added. Despite the lower-than-expected job growth, average hourly earnings provided a positive note, rising by 0.4% over the month. This increase outpaced forecasts, which had estimated a 0.3% rise.edged up as investors digested the August jobs report and its implication on U.S. monetary policy. Traders are now pricing in a:"We had said that the bar was set quite high for the data to push the Fed for a 50 bp cut in September, and this comes nowhere close to clearing it.
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