- Non farm payrolls increased by just 235,000 in August vs. expectations of 720,000. The unemployment rate fell to 5.2% for the month, and wages rose 4.3% year-over-year.
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- The leisure and hospitality industries saw wages jump 1.3% for the month and 10.3% for the year in August. Wage growth is inflationary and could push rates higher.
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- Initial jobless claims last week fell to a pandemic low of 310,000, and continuing claims fell, too. The expanded federal unemployment benefits expired on Monday, Sept. 6.
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