The United States economy added 173,000 jobs in August, but the latest jobs report did very little to shed light on whether or not the Federal Reserve will or should begin raising interest rates later this month.

While those that argue against a rate hike point to slow wage growth and lackluster inflation numbers, Indeed Chief Economist Tara Sinclair believes that the mixed economic numbers are simply the “new normal” in the US.

The Numbers

The best news from the jobs report is that the unemployment rate hit 5.1 percent, nearly half its Great Recession peak and within the Federal Reserve’s target range. However, job growth came in below expectations at only 173,000 and wages grew at only 2.2 percent during the month, well short of the Fed’s 3.5 percent target.

September Rate Hike

Although Sinclair would prefer to see more people returning to the labor market, she believes…

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