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Listen to this article in summarized format The US economy added 29,000 jobs last month, the Labor Department reported, well below economists’ estimate of 90,000. Payroll growth for August was also revised lower, while the unemployment rate edged up to 4.2% from 4.1%. For live updates on US Markets, click here The employment data prompted traders to scale back expectations for another Fed rate increase. Interest-rate futures were pricing in less than a 20% chance of a hike at the Fed’s October meeting, down from more than 25% previously. Expectations for a December increase also eased, although markets still put the probability at nearly 90%. The labor-market data comes after the Fed raised its benchmark short-term interest rate by 25 basis points last month, as policymakers sought to bring inflation back toward their 2% target. Fed officials have indicated that another rate increase could still be warranted before year-end if inflationary pressures remain elevated, particularly amid the impact of the Iran war and other supply shocks. However, the latest employment figures add to the case for caution, especially if labor-market weakness persists. The data leaves the Fed balancing two competing risks: keeping rates high enough to contain inflation while avoiding excessive pressure on an already weakening labor market. (Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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