The jobs report is out, and it’s a big miss.
Markets are moving.
The most dramativc move is coming from the bond market where the yield on the 10-year Treasury just dropped from 2.47% to 2.40%.
U.S. stock market futures are rallying. S&P 500 futures are down just 1 points after being down by around 6 points ahead of the report.
U.S. companies added just 142,000 new payrolls in August, missing expectations for a gain of 230,000.
July’s number was revised up modestly to 212,000 from an earlier print of 209,000.
As expected, the unemployment rate ticked down to 6.1% from 6.2% in July. This came as the labour force particiapation rate slipped to 62.8% from 62.9%.