On Friday, the 6th of September 2019, US job data released by the Labour Department sketched out a mixed portrait of US labour market, while job growth slowed more than anticipated last month alongside retail hiring was declined for seven straight months in a row, but robust wage growth eased some strains off the US economy and kept the 10-year long expansion still on the card despite rising bubbles of trade threats.
Aside from the wage gain, US Labour Department’s monthly employment report released on Friday (Sept. 6th) had witnessed a rebound in August after getting contracted by the most in nearly two years a month earlier, adding a silver lining on US Labour market meanwhile suggesting that companies had not yet set out a full-blown job cuts to grapple with a horrendous outlook brewed of latest escalation of Sino-US trade tensions.
Besides, according to August’s non-farm payroll data released on Friday (September 6th), US economy added 130,000 jobs last month, while an analysts’ poll was expecting a rise in non-farm payroll to 158,000 last month.
Meanwhile, echoing the sentiments of the economists who had been expecting a recession as hinted by an inversion of 2-yr/10-yr US Treasury curve, expressing concerns over August’s US job data, US House of Representative Speaker, Nancy Pelosi, a Democrat said later on Friday (Sept.
6th), “Employment report offered little comfort in an economy faltering under the Trump administration’s reckless agenda to undermine the health, financial security and well-being of the American people. ”