Salient to Investors:
Michael Feroli at JPMorgan Chase said the jobs report is a setback for the labor market and the economy and validates Bernanke’s concern.
Bill Gross said the Fed will likely ease further through “open-ended” purchases of Treasuries and mortgages and extend its pledge to keep interest rates low into 2015.
Factory employment fell by the most in two years, temporary-help companies eliminated positions for the first time in five months, and the share of the working-age population in the labor force slumped to the lowest since 1981.
The unemployment rate has exceeded 8 percent since February 2009, the longest run in monthly records going back to 1948.
Read the full article at http://www.bloomberg.com/news/2012-09-07/payrolls-in-u-s-rose-96-000-in-august-jobless-rate-falls.html