The United States economy significantly exceeded expectations by creating 162,000 jobs in the non-agricultural sectors in August, according to data from the Bureau of Labor Statistics (BLS). Economists consulted by Reuters expected between 25,000 and 121,000 new positions, with the average expectation pointing to only 56,000.
July's data was also revised, shifting from an initially announced reduction of 23,000 jobs to a creation of 21,000 positions. This revision demonstrates a more robust recovery of the labor market than initially estimated.
The Federal Reserve will have to decide at the September 16 meeting whether to change the Federal Funds Rates, in a context of uncertainty about the outcome of the war in the Middle East and its impact on inflation, particularly on energy prices.
Before the release of the employment data, the probability of the Fed raising the cost of the dollar by 25 basis points to the range of 3.75% to 4% was 52.4%, according to the CME FedWatch Tool, which monitors interest rate futures trading.
