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- August NFP: Hiring in the US slowed dramatically in August; September tapering a close call - CIBC
August NFP: Hiring in the US slowed dramatically in August; September tapering a close call - CIBC
eFXdata reports that CIBC Research provides its vies on today's US jobs report for August.
"Hiring in the US slowed dramatically in August, as the recovery in service sectors impacted by Covid stalled. The 235K jobs created were well below the consensus expectation of 733K even when accounting for the +134K revision to the prior two months. Leisure and hospitality showed no change in the level of employment, while retail trade payrolls dropped off, and hiring in other sectors was modest."
"This disappointing report will make it a closer call than we expected for a September tapering announcement from the Fed."
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