This was one of the most important data points of the year given what happened last month…
But it’s a bit of a mixed bag.
The August payrolls figure of 142,000 missed estimates of 165,000.
Note: The last two months have been revised DOWN by -86,000 jobs.
But the unemployment rate dropped to 4.2% from 4.3%, in-line with expectations.
25bps and 50bps still on the table at the next Fed meeting.
Sahm Indicator...