The August jobs report is out. 315k jobs were added, which was considerably higher than the ADP jobs added report of 132k. Hmm.
Be that as it may, US Average Hourly Earnings YoY remained at 5.2%. That’s a shame since the last inflation report had US inflation at 8.5%. That translates to REAL Average Hourly Earnings YoY of … -3.3%.
Labor force participation rose to 62.4%.
This is a decent jobs report and will likely lead The Fed to continue raising rates, particularly when The Fed sees that multiple jobholders has increased to cope with inflation.