GoldPrice

The US economy added 130,000 jobs in August compared to 160,000 expected, while the unemployment rate remained flat as expected at 3.7%. The low rate of unemployment, near a 50-year low, along with strong labor market data released yesterday by the Labor Market and ADP, points to a strong and healthy market despite increasingly vulnerable economic conditions.

The number of Americans applying for unemployment benefits saw a moderate increase last week, remaining near the lowest level since 1969. Coupled with unexpectedly high levels of job creation in the private sector in August, the report indicates ongoing strength in the US labor market.

US companies added the most jobs in four months in August, with payrolls increasing by 195,000 compared to estimates of 148,000 and 142,000 the month prior. Combined with stable jobless claims data, the US labor market appears to remain in good health.

The number of Americans applying for jobless claims during the week ended August 24 rose by 4,000 to 215,000, according to a report released by the Labor Department on Thursday. The figures are in line with market expectations.

The Federal Reserve Bank of Richmond reported moderate manufacturing activity in August in the Fifth District, according to their most recent survey. The composite index rose 13 points from negative territory in July to 1 in August.

Home prices in June rose 3.1% on an annual basis, according to the S&P CoreLogic Case-Shiller national home price index. The figure is down from the 3.3% gain seen in May, which in turn was down from the month prior. US home prices have now cooled for 15 months in a row.