Sep 07, 2012 12:41 PM GMT
A disappointment but still a positive number. Means that interest rates will be kept low and a QE3 around the corner? Markets reverse more positive gains, gold rises (anticipation of inflation?).
A fresh update on the U.S. employment situation for August hits the wires at 8:30 a.m. New York time offering one of the most important snapshots on how the economy fared last month. Expectations are for 125,000 new jobs to be created — down from 163,000 jobs added in July — with the unemployment rate sticking at 8.3%. [...]
Ouch. These numbers are terrible. 96,000 was below economists expectations and well below all the whisper numbers floating around. This report could mean QE3 is right around the corner.