Jobs report set to seal September Fed hike, not future path
Lacklustre pay is among reasons why investors aren't fully convinced Fed will deliver its fourth 2018 hike in December
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Washington
AN AUGUST rebound in US payrolls would all but cement a Federal Reserve interest-rate increase this month. Yet investors will probably retain doubts about another hike this year, barring a surprise acceleration in wages.
Employers added 198,000 workers last month after 157,000 in July, helping to trim the jobless rate to 3.8 per cent to match the lowest level since 1969, according to a Bloomberg survey ahead of Labor Department data due on Friday. Average hourly earnings likely rose 2.7 per cent from a year earlier for a third straight month, only slightly above the 2.5 per cent average in 2017.
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