The US economy added just 194,000 new jobs in September, continuing the poor performance seen in August with this month seeing the smallest gains since December 2020.
The numbers "came in below expectations", said John Leiper, chief investment officer at Titan Asset Management, as "the consensus forecast" had been around 500,000 jobs. The report was compiled in mid-September, during the peak of the Delta variant's spread, and came following the expiry of pandemic unemployment benefits for eight million people. Tabling tapering? The poor performance has "thrown expectations for tapering into disarray", said Seema Shah, chief strategist at Principal Global Investors. However, Daniele Antonucci, chief economist & macro strategist at Quintet Priva...
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