BlackrockJeffrey Rosenberg, a senior portfolio manager at the systemic fixed income fund, said investors may see the weak August jobs data as an anomaly caused by the Delta epidemic during the sustained recovery of the US economy.

"the market is studying this data and thinks it is temporary," Rosenberg said in an interview with Bloomberg Television Surveillance shortly after the jobs report was released. "We talked about temporary inflation. Here we will talk about the temporary impact of the Delta strain, at least in terms of market reaction. "

The Labor Day long weekend holiday is just around the corner, and the market performance is relatively stable on Friday. Most sectors of the S & P 500 fell back, NASDAQThe 100 index outperformed the main benchmark index. The Treasury yield curve steepens.

Non-farm payrolls rose 235000 in August, the smallest increase in seven months and worse than all expectations. Employment in the leisure and hotel sectors has barely grown, reflecting concerns about the spread of the Delta epidemic.

The report complicates the Fed's decision to cut its size by the end of the year.

"the market's expectation of when to start underwriting has been postponed," Rosenberg said. He added that the Fed had time to make a decision.

"they talk repeatedly about necessity and the need to avoid reacting and overreacting to short-term events," he said. "from this point of view, they do not need to act in haste."

Friday's report showed that the unemployment rate fell from 5.4% to 5.2% in August. Non-farm payrolls were revised up to 1.05 million in July.

The upward revision "confirms the strong performance of the labour market under the influence of the Delta strain, which may be what the market is thinking right now as an one-off slowdown rather than the beginning of a new trend," Rosenberg said.