WASHINGTON (AP) — Friday's monthly jobs report will likely mark a pivotal moment for the economy and the Federal Reserve.
for July — it would heighten worries that the job market is stumbling. The Fed might then seek to deliver a stimulus with a larger-than-usual interest rate cut of a half-percentage point when it meets later this month.
Economists have estimated that the government will report Friday that employers added 160,000 jobs in August and that the unemployment rate slipped back to 4.2%. Since hitting a half-century low of 3.4% in April of last year, the jobless rate has risen nearly a full percentage point.
At the same time, consumer spending, the principal driver of economic growth in the United States, rose at a healthy pace in July. And the economy grew at a “Everyone's in a bit of a holding pattern,” said Becky Frankiewicz, president of North America at staffing giant Manpower. “Everyone's watching that mid-September meeting, to free up and start spending.”Wabash to Explore All Options in Response to St. Louis Circuit Court Verdict
CD47 Inhibitor Drug Clinical Trials Market Outlook to 2028 - Emerging CD47 Inhibitor Clinical Trials Showcase Potential Cancer Treatment Breakthroughs
Kamala Harris Federal Reserve President Donald Trump Jobs Report Job Market Corporate Tax Rate
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jobs report will help Federal Reserve decide how much to cut interest ratesWASHINGTON (AP) — Friday's monthly jobs report will likely mark a pivotal moment for the economy and the Federal Reserve.
Read more »
Federal Reserve Chief Powell: 'The Time Has Come' To Start Cutting Interest RatesWith inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high.
Read more »
Inflation likely stayed low last month as Federal Reserve edges closer to cutting ratesWASHINGTON (AP) — If the Federal Reserve needs any further evidence that the worst price spike in four decades is steadily easing, it's likely to come...
Read more »
The Federal Reserve should refresh its mandate: Former presidential candidate Vivek RamaswamyFormer GOP presidential candidate Vivek Ramaswamy weighs in on the Federal Reserve, crypto, and the outlook for the economy.
Read more »
U.S. Federal Reserve policy-makers agree on need for rate cuts, but their reasons varyFed policy-makers have not unfurled a ‘mission accomplished’ banner to celebrate victory over what two years ago was the highest inflation rate in 40 years. But they do believe price pressures are now cooling
Read more »
Federal Reserve's favored inflation gauge shows price pressures easing as rate cuts nearWASHINGTON (AP) — An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate next month for the first time i
Read more »