U.S. non-farm employment growth slowed in August, unemployment rose to its highest level in 2021

According to ChainCatcher, U.S. employment growth cooled significantly in August, with non-farm employment increasing by 22,000, and the unemployment rate rose to its highest level since 2021, raising concerns about a deterioration in the labor market. The Bureau of Labor Statistics report showed that employment fell for the first time in June, and the July data were shocking. Job vacancies and wage growth have slowed in recent months, putting pressure on economic activity. Traders continue to bet on the Fed's interest rate cut at its September meeting.