U.S. payrolls significantly exceeded expectations in August, with 162,000 jobs added against a consensus forecast of 56,000. The unemployment rate held steady at 4.1%, marking the largest monthly gain in five months. This robust employment growth has eased immediate recession fears while complicating the Federal Reserve’s monetary policy strategy. Odds for a rate hike by the September meeting stand at 48.5%, compared with 61.5% for the October meeting.
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