The August Jobs report came in weaker than expected Friday morning, showing that the United States created 142,000 jobs in August versus estimates of 225,000, while the jobless rate was in-line at 6.1 percent.
The labor-force participation declined to 62.8 percent, matching the lows of 2014 and approaching the lowest level since 1978.
S&P 500 futures rallied sharply after the release, moving from 1990 to 1995.50 on hopes that the weak jobs number will provide the Fed further reason to keep monetary policy at historically accommodative levels.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.