The monthly jobs report for August points to a further cooling in the labor market, a welcome sign for markets and the Federal Reserve’s inflation fight.
While he’s focused on 187,000 new jobs in August coming in higher than expected, a more crucial factor for him might be the average workweek edging up to 34.4 hours, while employment for temporary workers fell. As of August, the 3-month rolling average was 3.6%. The rule would be triggered if the current unemployment rate holds for two more months, Corey said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: