WASHINGTON: U.S. job growth slowed more than expected in August, reflecting the U.S. trade war with China and raising expectations for a Federal Reserve rate cut this month.
Transportation and warehousing jobs, which feel knock-on effects from trade and manufacturing, dropped by 0.5per cent.Retail jobs dropped for the seventh straight month in a row, indicating that U.S. retailers could be more troubled that expected."I know we just passed Labor Day but they just continue to shed jobs like nobody’s business," said J.J. Kinahan, chief market strategist at TD Ameritrade in Chicago.
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