Investors were closely watching out for the report as they looked for clues about the Fed’s next monetary policy move.
The Fed is set to meet later this month with many investors expecting the central bank start rolling off its massive bonds portfolio later in the fall. However, most investors are expecting the Fed to keep interest rates unchanged for the rest of 2017. Another rate hike isn’t fully priced in until June 2018, according to the CME Group’s FedWatch tool.
Friday’s report showed that August marked the 83rd straight month of jobs growth. But a slowdown take place in September and October after Houston was ravaged by a storm which has shut down the city.
“You’re not going to see hiring activity [in Houston] for a few weeks and that is going to take a chunk out of the survey next month,” said Andrew Chamberlain, chief economist at Glassdoor. “Houston being on of the biggest cities in the U.S. and the energy capital of the country … could be a risk moving forward.”
Other data released Friday included construction spending for July, which hit a nine-month low, and national factory activity for August, which expanded more than expected.
U.S. Treasury yields whipsawed on Friday, last trading at 2.157 percent after hitting 2.11 percent earlier in the session.
—CNBC’s Jeff Cox contributed to this report.