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What the US job market data says
A report on the US Labour market in August reveals a mixed reality. While job growth defied expectations, the unemployment rate experienced a notable uptick. Nonfarm payrolls exceeded expectations, posting a growth of 187,000 jobs, surpassing the estimated 170,000. However, this apparent success is tempered by a significant increase in the unemployment rate, which reached 3.8%, marking its highest level since February 2022.
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