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Nonfarm payrolls added 22,000 jobs in August, significantly lower than 75,000 estimate
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Nonfarm payrolls added 22,000 jobs in August, significantly lower than 75,000 expected and below 79,000 in July (revised upwards from 73,000).
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Unemployment rate was 4.3%, in line with estimate but up from 4.2% in July.
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Average hourly earnings rose 0.3% on the month, in line with the estimate and unchanged from the previous month.
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Labor force participation rate rose to 62.3% from 62.2% in July.
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S&P 500 futures rose 0.2% while Nasdaq 100 futures gained 0.6% following the release of the jobs report.
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Job gains were led by Education & Health Services (+46,000) and Leisure & Hospitality (+28,000) while losses were led by Professional & Business Services (-17,000) and Government (-16,000).
