NEW YORK (Reuters) - Bill Gross of Janus Capital Group Inc JNS.N said on Friday the August U.S. employment report was mediocre but decent enough to support the U.S. Federal Reserve’s case for hiking rates this year.
“The jobs number was mediocre but decent, and probably in terms of Janet Yellen and the Fed, sufficient for either September or December, it’s probably on the line,” Gross told cable television network CNBC.
Nonfarm payrolls increased 173,000 last month after an upwardly revised gain of 245,000 in July, the Labor Department said on Friday. August’s gain was the smallest in five months as the factory sector lost the most jobs since July 2013.
Reporting by Sam Forgione; Editing by Chris Reese