Lates News

Annex Wealth Management Chief Economic Strategist Brian Jacobsen said the U.S. job market is not as strong as initially thought. The July data was revised down to negative growth, and although August saw a decent rebound, that momentum came to an abrupt halt in September, with only 29,000 jobs added. The employment diffusion index has fallen back below 50. Fed Chair Warsh had previously been concerned about the breadth of inflation, but now he will have to consider the lack of breadth in the job market. This data supports holding off on a rate hike in October.