Strong U.S. jobs growth lifts expectations for a September rate hike

U.S. employers added 162,000 jobs in August, far exceeding economists’ forecast of 56,000. The unemployment rate held at 4.1%, suggesting the labor market had more momentum than previously thought.

The report pushed markets to price in about a 60% chance of a Federal Reserve rate hike at its Sept. 16 meeting, up from roughly 50% earlier in the week. Wall Street closed lower Friday, while Australian shares were expected to open roughly flat after the Labor Day holiday closure in U.S. markets.

Read the full story at capitalbrief.com.