In August 2024, the employment rate did not reach the expected growth rates, which caused a new wave of concern among Americans.
The August jobs report directly impacts the Fed’s upcoming decision to begin the process of lowering interest rates at its September 17-18, 2024 meeting.
The cooling labor market is an expected result of the NBU’s targeted monetary policy over the past two years. The slowdown indicates the economy is returning to a more sustainable growth rate.
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