US non-farm payroll report showed only 130k employment growth in August, below expectation of 162k. Prior month’s figure was also revised down from 164k to 159k. Unemployment rate was unchanged at 3.7%, matched expectations. Participation rate edged up to 64.2%. However, average hourly earnings rose 0.4% mom, above expectation of 0.3% mom. Dollar is slightly lower after the release as weak headline number was offset by strong wage growth.
