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Sunday, 9 October 2016

Weaker than expected US jobs report still strong enough to point to rate hike by end of the year

Tepid US jobs report points to rate hike in December rather than November -analysts: US employment figures came in lower than expected, with the US economy adding 156k jobs last month, according to a statement by the Bureau of Labor Statistics. US Federal Reserve Vice Chairman Stanley Fischer is quoted as describing the numbers as close to a “Goldilocks” scenario, as in not too cold or too hot, with regard to a potential rate increase. “The September jobs report should leave the Fed on track to hike in December, but it wasn’t robust enough to push for a November hike,” according to US economist at Bank of America Merrill Lynch in a report, MarketWatch reported.

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