Investors are getting a mixed picture of the state of the labor market on Wednesday morning. The ADP National Employment Report showed 99,000 jobs added in the private sector in August, falling significantly below the expected 145,000. This was the lowest level since 2021, indicating more of a cooling scenario than normalization in the labor market. On the other hand, initial jobless claims came in at 227,000, slightly under the expected 230,000.
Yahoo Finance Senior Reporter Jennifer Schonberger breaks down the data and what it means for the Federal Reserve as it gears up to initiate its first interest rate cut at its September meeting. Friday morning’s August jobs report could significantly influence the Fed’s rate cut plans.
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