The US "small non-farm" in August was lower than expected, and the bet on interest rate cuts remained unchanged

According to BlockBeats, on September 4, U.S. businesses recruited less than expected people in August, consistent with other evidence that demand for labor is weaker. ADP data shows that private sector employment rose by 54,000, or about half of last month’s increase. The report is consistent with recent data, showing that the employment market is gradually cooling down, mainly manifested in the reduction of job vacancies and slowing wage increases. Employment growth has slowed significantly in recent months, and unemployed people have been finding new jobs longer. Fed officials are expected to cut interest rates by 0.25 percentage points at this month’s meeting amid concerns about further weakening of the job market. Traders maintained these bets after the ADP data were released. (Jin Shi)