Non-farm data confirms that the U.S. job market is weakening, laying the groundwork for the Federal Reserve to cut interest rates

ChainCatcher news, according to Jinshi reports, the U.S. job growth in August slowed significantly, with the unemployment rate rising to 4.3%, confirming that the labor market is weakening, laying the groundwork for the Federal Reserve to cut interest rates this month.

The employment report released by the U.S. Department of Labor's Bureau of Labor Statistics on Friday showed that non-farm payrolls in August increased by only 22,000, compared to an expected increase of 75,000, while the non-farm payrolls in July were revised up to an increase of 79,000.