Your current location is:{Current column} >>Text
Poll: Will the August jobs report be above or below forecasts? By
{Current column}396People have watched
Introduction-- Investors are looking ahead to the release of the all-important data on Friday, which could fact ...
-- Investors are What does dealer mean?looking ahead to the release of the all-important data on Friday, which could factor into how the Federal Reserve gauges its next interest rate decision later this month.
Economists are predicting that the U.S. economy added 164,000 jobs in August, an increase from 114,000 in the prior month. The July total, which was far below expectations, sparked a broader market downturn as traders fretted over the possibility of a US recession.
Meanwhile, the is seen edging down to 4.2% from 4.3%, while month-on-month is tipped to pick up slightly to 0.3%.
"Employment growth is slowing, but the July print exaggerated the trend. Hurricane Beryl and Texas power outages probably held back July payrolls," analysts at Morgan Stanley said in a recent note to clients. "The July slowdown also outran jobless claims, which have come down in recent weeks, and the jobs report contrasts with the momentum in consumer spending."
The labor market data will likely play into how Fed Chair Jerome Powell approaches a much-anticipated shift away from a focus on taming inflation to preparations aimed at guarding against job losses. Powell said in August that the "time has come" to adjust monetary policy due to potential "downside risks" facing the US jobs picture.
According to the CME's closely-monitored FedWatch Tool, analysts are all but convinced the Fed will roll out a 25-basis point reduction in borrowing costs at the central bank's upcoming two-day gathering from Sept. 17-18. Interest rates currently stand at a 23-year high of 5.25% to 5.5%.
"The pivot from inflation to jobs is complete," analysts at Citi said in a note to clients on Tuesday.
The Citi analysts said they project that payrolls will come in at 125,000, adding that this would be "soft enough" for the Fed rates by 50 basis points.
Elsewhere, the Morgan Stanley analysts are calling for a payrolls figure of 185,000 and a jobless rate of 4.2%. Analysts at Nomura, meanwhile, see the numbers at 130,000 and 4.2%, respectively.
How do you think the August nonfarm payrolls will stack up next to economists' expectations? Have your say in our online poll on X.
Tags:
Related articles
This Week's CPI Report Could Seal the Deal on Next Big Rate Hike
{Current column}The on Friday came in very strong, and now this week, all the attention will shift back to the . Th ...
Read moreIs DeltaFX Trading Safe? DeltaFX Review
{Current column}FTI's top 100 foreign exchange brokers can be selected by reference. If they are not within 100, ...
Read moreIs UTG Markets Trading Safe? UTG Markets Review
{Current column}FTI's top 100 foreign exchange brokers can be selected by reference. If they are not within 100, ...
Read more
Popular Articles
- Tesla, AT&T and Bed Bath & Beyond fall premarket; IBM rises By
- Week Ahead: Rate Hikes, Impact of Economic Data
- Is UTG Markets Trading Safe? UTG Markets Review
- Yen holds on to big gains after BOJ's surprise policy tweak By Reuters
- Hindenburg takes on billionaire activist Icahn with short position, shares plunge By Reuters
- Nikkei slips further as Asian stocks reel from BOJ policy shift By
Latest articles
-
Telecom stocks tumble on report Amazon is in talks to offer mobile service to U.S. Prime subs By
-
iBiz Trading Is Safe? Company Abbreviation iBiz
-
Global shares edge up, but face patchiest yearly performance since 2008 By Reuters
-
Despite strategists' warnings, BofA clients are still buying U.S. stocks By
-
More US consumers are falling behind on payments By Reuters
-
为什么选择Alpha Hedge Expert平台?Alpha Hedge Expert平台监管合规吗?