Rate Hike Fever: What a Strong Jobs Report Means for Markets and Consumers The August jobs report has sent shockwaves through Wall Street with investors ramping up bets of a Federal Reserve rate hike following surprisingly strong employment growth.
The odds of a rate increase in September have reached 58%, according to CME Group. The numbers are undeniably impressive, with 162,000 jobs added last month, blowing past economists' expectations of 55,000.
The unemployment rate remains steady at 4. 1%, a reassuring sign that the labor market is still robust.