August US job gain below expectations; jobless rate in “modest uptrend”

Summary: US non-farm payrolls up 142,000 in August, below expectations; previous two months’ figures revised down by 86,000; jobless rate ticks down to 4.2%, participation rate steady at 62.7%; Westpac: jobless rate in modest uptrend; US Treasury yields fall; expectations of Fed rate cuts firm; ANZ: well below monthly gain necessary to sustain labour market balance; employed-to-population ratio steady at 60.0%; underutilisation rate rises to 7.9%; annual hourly pay growth...

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