Unemployment in the US at 4.1%, 162,000 jobs created

In August, the US economy created 162,000 jobs, while the unemployment rate remained at 4.1%. The labor force participation rate increased to 61.6%. Average hourly earnings rose by 0.3% month-on-month and by 3.1% year-on-year. Data for June and July were revised upward by 55,000 jobs. The probability of an interest rate hike by the Federal Reserve in September is estimated at 58%. The target range for the rate is 3.5-3.75%. The next Federal Reserve meeting will take place on September 15-16, with the decision announced on September 16. Federal Reserve Chair Kevin Warsh noted that the labor market is consistent with full employment, but the inflation situation is concerning. Trader John Zidar pointed out that the strong employment report bolstered the arguments of the "hawks," but the final schedule may change with the new inflation report.

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