US payrolls rose 162,000 in August against a 55,000 forecast, and markets are now pricing much higher odds of a Fed rate hike this month, just as oil prices topped $100 a barrel ahead of Friday's inflation data.
EndGame Macro argues August’s 162,000 payroll beat was largely seasonal: food services lost workers on a raw basis but printed +59,000 after adjustment, a pattern that can overstate hiring if summer staffing never rebuilt. Source
