Traders increased their bets that the Federal Reserve won't hike interest rates in September following a weak jobs report. Another report showed a mixed picture for the labor market. The research indicated employment gains were strongest among lower-income households, a shift that also translated into faster wage growth for those workers. According to the analysis, annual after-tax wage growth for lower-income households exceeded that of higher-income households for the first time since December 2024. "What's driving the pick-up in after-tax wage growth among lower-income households?