Fall Break For Fed? Jobs Report Eases Concerns Of Rate Hikes As Unemployment, Participation Grow

(Friday market open) U.S. jobs growth stayed on simmer in August as nonfarm payrolls grew 187,000, the U.S. Department of Labor reported Friday. The unemployment rate jumped and the government downwardly revised job gains from earlier this summer. Though the jobs number came in slightly higher than the 170,000 analysts had expected, it doesn’t seem likely to raise inflation concerns or put the Federal Reserve on speed dial for additional rate hikes. Major U.S. stock indices rose and Treasury yields fell after the data came out. Chances of a September rate increase fell to just 7%, according to…

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