Categories: General Market Commentary / Precious Metals
Topics: General Market Commentary / General Precious Metals

US created 151,000 jobs in August vs. 180,000 jobs expected

US created 151,000 jobs in August vs. 180,000 jobs expected

by Jeff Cox

August traditionally has been a difficult month for jobs numbers, and 2016 proved no exception, likely putting the Federal Reserve on hold for a rate hike anytime soon.

Nonfarm payrolls increased just 151,000 for the month, extending the futility August has experienced over the years. This is now the 10th time in the past 13 years the month whiffed on market expectations.

Wall Street economists were expecting the nonfarm payrolls report to show a gain of 180,000 in August, with the unemployment rate ticking down one-tenth to 4.8 percent. Wage growth slowed.
"We had a couple above numbers in the last two months. This is a below-average number," said Jeff Kleintop, chief global investment strategist at Charles Schwab. "All that suggests the job market is OK, but it probably does put September off the table" for an interest rate hike.

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