U.S. job growth slows in August

US hiring slows in August; jobless rate rises to 4.4%

It wasn't long ago that the U.S administration had frowned upon governments and central banks jawboning and attempting to keep their respective currencies on the weaker side in the interest of trade and economic growth, the ECB, China and Japan having been the main culprits singled out.

The total nonfarm payroll employment increased by 156,000 in August, below market expectations of 180,000, and the unemployment rate ticked up 0.1 percent to 4.4 percent, the Labor Department said.

When combined with June and July's job growth, estimates of which were.

While job growth slightly slowed last month, the overall labor market recovery remains solid so far this year.

The labour market has continued to strengthen even as hopes for a promised tax cut this year have faded.

Other data out of the U.S this afternoon include finalized Michigan Consumer Sentiment figures for August and manufacturing PMI numbers, though we will expect these to be a secondary consideration for the markets.

While the damage is still being assessed in Houston, this could be the costliest storm in history.

US hiring slows in August; jobless rate rises to 4.4%
U.S. job growth slows in August

The Institute for Supply Management said its in August climbed to 58.8% from 56.3% in July.

A measure of factory employment hit a more than six-year high. Construction employment jumped by 28,000 jobs last month. That was the largest gain since February and came despite a lull in homebuilding activity and home sales.

The Federal Open Market Committee (FOMC) will hold its next policy meeting on September 19-20. The dollar index was set to gain just 0.1 percent for the week after posting its biggest percentage decline in more than a month, of 0.7 percent, last week.

'It won't help the Fed convince markets that it wants to hike rates faster than investors now anticipate, ' he said. The Fed has increased borrowing costs twice this year. The meeting will be accompanied by quarterly economic projections.

"The economy has added 185,000 jobs per month on average over the past three months". That followed an upwardly revised gain of 201,000 in June and was the fastest pace of expansion since March.

"The economy can't create more jobs as there is no one left to hire at this late stage of the recovery with the expansion starting its ninth year in July", said Chris Rupkey, chief economist at MUFG in NY.

Payrolls at nonstore retailers rose only 700 despite online retailer Amazon.com holding a series of job fairs to recruit about 50,000 workers last month.

Toronto gas prices expected to hit $1.32 on weekend
Marie, Thunder Bay, and Timmins have been reporting the highest gas prices, in the range of 131.9 to 133.9 cents per litre. Locally, prices across the Greater Toronto Area may hit between $1.329 and $1.339 per litre on September 2.

Donald Trump To Donate $1Million To The Victims Of Hurricane Harvey
White House homeland security adviser Tom Bossert speaks during the daily press briefing, Thursday, Aug. 31, 2017, in Washington. He's likely to get closer to the devastation zone Saturday when he returns to Texas, probably to the Houston area.

HARLEY QUINN™ Spinsanity to Debut at Six Flags New England
The ride seats 32 people at a time and has a unique "face-off" design, where guests can sit back-to-back or face-to-face. That price includes admission for the rest of 2017 and all of 2018 plus some other upgrades.

Related:

  • Windows Mixed Reality headsets to cost £399 in the UK

    Windows Mixed Reality headsets to cost £399 in the UK

    The Insider Preview version limited the contacts to just Skype or email, but what the final version will offer is unclear for now. Its predecessor, Windows 10 Anniversary Update, a k a 1607 for July 2016, didn't begin rolling out until August .
    Toddler rescued, clinging to body of drowned mother in Texas

    Toddler rescued, clinging to body of drowned mother in Texas

    Hurricane Harvey hit landfall in Texas on Friday and has caused billions in damage while taking almost a dozen lives already. Two police officers and fire rescue officers used a rubber boat to reach the pair and managed to drag them onto the boat.
    Pentagon announces there are 2600 more troops in Afghanistan than previously reported

    Pentagon announces there are 2600 more troops in Afghanistan than previously reported

    Trump last week revealed his plan to increase U.S. troop numbers in the country, in an about-face from his election campaign promises.
  • Ford Motor Company (NYSE:F) Experiences Heavier than Usual Trading Volume

    Ford Motor Company (NYSE:F) Experiences Heavier than Usual Trading Volume

    The institutional investor owned 1,098,909 shares of the auto manufacturer's stock after selling 41,607 shares during the period. Like Ford, General Motors plans to transport used cars to Houston in order to meet market demands and to reduce its inventories.
    An Asteroid Named Florence Just Flew by Earth

    An Asteroid Named Florence Just Flew by Earth

    Asteroid Florence is among the largest near-Earth asteroids that are several miles in size, according to NASA . The asteroid owes its name to Florence Nightingale , founder of modern school of nurses.
    Logitech unveils new

    Logitech unveils new "no lag" keyboard and mouse

    Check out the videos below to see how the Logitech Craft keyboard works and how the MC Sound speakers perform. The Logitech Easy-Switch technology will allow them to easily switch between audio sources.
  • U.S.  may resume some visa work at Russian Federation  outposts

    U.S. may resume some visa work at Russian Federation outposts

    U.S., South Korean and Japanese warplanes took part in a joint flyover of the Korean Peninsula on Thursday. Washington gave Moscow 48 hours to comply.
    RBI Data Confirms Note Ban was a Total Failure!

    RBI Data Confirms Note Ban was a Total Failure!

    The Congress leader also said the FDI had fallen by seven per cent and credit to the industry was lowest in the last 63 years. The RBI yesterday said about 99 per cent of Rs 15.44 lakh crore demonetised currency came back into the system.

    Donald Trump Better Not See This Brand New Fox News Poll

    Trump draws less confidence in his ability to make wise decisions about immigration and the use of nuclear weapons (40% each). Trump said the USA needs to keep pace with other countries and ideally needs a business tax of 15 percent.
  • Wall Street opens higher as data lowers rate hike view

    Wall Street opens higher as data lowers rate hike view

    For the month, the Dow and the S&P 500 notched five-month winning streaks, while the Nasdaq recorded its ninth positive month. Health care and technology companies lead the way and the Nasdaq composite closed at a record high.
    Trapped bakers in Houston make pan dulce for flood victims

    Trapped bakers in Houston make pan dulce for flood victims

    For those unable to go to the store and buy bread, the bakery packaged up plenty of pan dulce and donated to people in need. The bakery shared an image Monday of some of its workers posing with their baked creations.
    May, Abe pledge to increase pressure on North Korea

    May, Abe pledge to increase pressure on North Korea

    She will hold a joint press conference with Abe today evening and meet Emperor Akihito on Friday before leaving. Last week, Japan expanded its own sanctions against the North, after a similar United States move.

Comments

Latest news

USC blind long snapper Jake Olson snaps on extra point
Western Michigan gave No. 4 USC all they could handle, keeping pace with the Trojans going into the fourth quarter. On his next opportunity, however, Darnold capped an 83-yard drive with a 11-yard touchdown rush off a bootleg.

Takeaways from Michigan Football's win over Florida
Florida State (0-1) will look to become the first team since Miami in 1983 to win a national championship after losing its opener. The Wolverines marched down the field to start the third quarter, scoring on a 3-yard Karan Higdon touchdown run.

Brokerages Set Intertek Group plc (ITRK) Target Price at $4098.60
The stock traded as high as GBX 329.75 ($4.26) and last traded at GBX 329.75 ($4.26), with a volume of 10,328 shares traded. Numis now has a GBX 520.00 target price per share on the 3.45 billion GBP market cap company or 46.01% upside potential.

Angels acquire Justin Upton from Tigers
Entering play Thursday, Anaheim is one game back of the Minnesota Twins for the second American League Wild Card place. Acquired in the off-season, the Tigers may have found their centerfielder of the future in the form of Mikie Mahtook.

CC Sabathia Rips Nunez, Red Sox Over Bunting
The Red Sox went 1-for-8 with men on base against Sabathia and were 0-for-10 with runners in scoring position. Sabathia pitched in a tight game before the Yankees added four runs in the sixth and seventh.

Asteroid Florence passes by Earth relatively close
The closest passing of a large asteroid to Earth will happen Friday, according to scientists who study "near-Earth objects". EDT on Saturday, according to S&T, as this is when the asteroid will pass much dimmer stars.

Maruti Suzuki to rebrand its vehicle showroom network in India
According to Maruti Suzuki , nearly 75 percent auto buyers today in India research online before deciding to purchase a vehicle . Maruti Suzuki ARENA is a part of the company's "Transformation 2.0 initiative", Maruti Suzuki India (MSI) said.

Dollar General Corporation Target of Unusually High Options Trading (DG)
More broadly, it doesn't help that competitors are taking share from Dollar General in higher-margin categories, he noted. For the past 5 years, the company's revenue has grown -1.8%, while the company's earnings per share has grown 0.7%.

Huge potential for cooperation with India: Chinese Foreign Minister Wang Yi
India's foreign ministry on Monday announced an "expeditious disengagement" of troops from Doklam after agreement was reached between the two sides.

AG To Gas Stations: Don't Even Think About Price Gouging
Legal penalties run to as much as $20,000 per occurrence, or up to $250,000 if the victim is 65 or older. There have been over 550 complaints so far about price gouging on everything from food to gasoline .

Tropical Storm Irma forms in Atlantic Ocean
The next big hurricane has already formed and this could become a big newsmaker in the U.S.in 10 days or so. That said, all interests in those areas should monitor the progress of Irma closely for many days to come.

Argentina name three uncapped players for World Cup qualifiers
Suarez was initially ruled out for four weeks but the Uruguay team doctor has not ruled him out against Argentina and Paraguay . Argentina new coach, Jorge Sampaoli will be looking for a good start but is yet to confirm his starters.

U.S. coast guard says rescues over 4500 people from Hurricane Harvey
Meanwhile, in Louisiana, the storm made its second landfall early today as it continues to move eastward. Aaron Duplechin, commander of the unit.

First human West Nile Virus case confirmed in Stanislaus County
In addition, mosquitoes from a trap located in the Town of Bradford West Gwillimbury tested positive for the virus this week. Symptoms can include a headache, fatigue, skin rash, swollen lymph glands and eye pain along with fever.

Mortgage rates continue their month-long slide
Mortgage buyer Freddie Mac said today the rate on 30-year, fixed-rate mortgages fell to 3.82 percent from 3.86 percent last week. ARM interest rates in the 10 year category have been published at 3.000% today and the April is 3.709%.

Other news