TechFlow news, on September 5, according to Jinshi Data, the U.S. ADP nonfarm employment change for August came in at 99,000 new jobs, below the expected 145,000 and revised from a prior reading of 122,000 down to 111,000, marking the smallest gain since January 2021. The latest data adds evidence of slowing labor demand, with Federal Reserve officials indicating they are now more concerned about risks to the labor market than inflation. As price pressures have largely retreated from pandemic highs, markets expect policymakers to begin cutting interest rates starting this month.
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