market: The U.S. created a lackluster 130,000 new jobs in August, adding to evidence that hiring has slowed sharply in 2019, according to Market Watch. The increase in new jobs fell well short of the 170,000 Market Watch forecast. Prices had been trading higher before Powell spoke on Friday, finding support after a report on the health of the U.S. labor market came in softer than expected. In a speech Friday, however, Powell said the job report is a sign of continued strength in the labor market. December gold GCZ19, -0.03% fell 10, or 0.7%, to settle at 1,515.50 an ounce on Comex, after trading as high as 1,536.20. He also said the outlook for the economy remains favorable and the Federal Reserve is not forecasting or expecting a recession.
(news.financializer.com). As
reported in the news.
Tagged under market, job report topics.