US jobs report weaker than expected

0

The US jobs report, issued on Friday, showed lower-than-expected growth rate with 151,000 non-farm payroll (jobs in the goods, construction and manufacturing industries) jobs in August, below the 180,000 that had been forecast by economists, according to Reuters.

That has lead investors to cool their expectations that there may be an interest rate hike from the U.S. Federal Reserve in the coming weeks, which had been estimated to take place as early as this month.

On Monday, the news saw the Nikkei rise by 1.1% to a three-month high, while the dollar also slipped against the yen.

The euro also rose as a result, although by just 0.1%, as the markets prepare for an interest rate decision from the European Central Bank on Thursday.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.