August Jobs: 142k Added, Unemployment at 4.2%

As the Summer ends the labor market continues to cool off, 142 thousand jobs created in the month of August, less than the expected 160 thousand.

Transcript

00:00As the summer ends, the labor market continues to cool off.

00:04142,000 jobs created in the month of August, less than the expected 160,000.

00:10The unemployment rate ticking down to 4.2%

00:14and the July jobs number revised down by 25,000 to just 89,000 jobs created.

00:22Markets did not apparently like what they saw.

00:24The S&P, Nasdaq and Dow all down on the news.

00:28The Federal Reserve still all but guaranteed to cut interest rates

00:32at their next meeting in less than two weeks.

00:35The only question remains is by how much they lower rates.