U.S. non-farm growth moderately in August, unemployment rate rose to its highest level since 2021

According to BlockBeats, on September 5, U.S. employment growth cooled significantly in August, and the unemployment rate rose to its highest level since 2021, raising concerns that the labor market may be in a more serious deterioration. Non-farm employment increased by 22,000 in August, a report released by the Bureau of Labor Statistics on Friday. Revised data showed a shrinking employment in June, the first time since 2020 saw a decline in employment. The data could intensify concerns about the durability of the job market after the shocking report in July. Employment growth has slowed significantly in recent months, job openings have decreased and wage growth has slowed, all of which have put pressure on broader economic activity. Traders continue to bet on the Fed's interest rate cut at its September meeting. Policy makers will also see the latest CPI report before the meeting. (Jin Shi)