One of the most anticipated jobs reports in years is out, and it's a mix of good and bad news. One big takeaway is that the data keeps the Federal Reserve on track to cut interest rates later this month, though the size of the potential cut isn't any clearer, reports the Wall Street Journal.
- Jobs: Employers added 142,000 jobs in August, below expectations of about 161,000, reports CNBC. The figure, however, represents a rebound from July's unexpectedly low figure of 114,000, per the Washington Post. All in all, the numbers suggest the nation's once-sizzling labor market continues to cool "but remains sturdy," per the AP.
- Rate: The unemployment rate declined slightly from 4.3% to 4.2%, as expected.
- Markets: Dow futures were down about 50 points in the immediate wake of the report's release, suggesting investors aren't thrilled. However, they were down even more, about 130 points, just ahead of the report's release, suggesting investors aren't too disappointed, either. Or at least that they need more time to digest the data.