What to expect from Friday’s jobs report – and AI in the future
Economists expect a modest rebound after July’s surprise loss, while BLS revisions point to slower hiring and a weaker labor market trend.
- The Bureau of Labor Statistics is expected to report on Friday that employers added 65,000 jobs in August, with the unemployment rate inching up to 4.2%.
- American Staffing Association chief economist Noah Yosif describes the current market as "low-hire, low-fire," driven by employer caution amid inflation and uncertainty about the cost of business.
- Varying forecasts show Citi expecting only 20,000 new jobs against a Dow Jones consensus of 53,000, though Labor Department data confirms weekly jobless claims remain low at 206,000.
- Governor Christopher Waller characterizes the jobs picture as in "satisfactory shape," signaling the Federal Reserve views the labor market as stable and less concerning than inflation.
- Artificial intelligence and shifting demographics, including Baby Boomer retirements and slowing net immigration, are driving a major labor market transformation that will reshape the workforce over the next decade.
16 Articles
16 Articles
August jobs data will test the limits of a low-hire economy
The August employment report is expected to show that the United States added 65,000 jobs while unemployment rose to 4.2%. Those figures would ordinarily suggest a labor market that is cooling without breaking. This time, however, the headline numbers will be less revealing than the forces beneath them. Hiring has slowed so sharply that even a modest change in participation can alter the unemployment rate without a comparable wave of layoffs. Ec…
US Jobs Report Takes Focus After Strong Services Data - ActionForex
In focus today The US Jobs Report, the week’s most important data release, is due. We expect nonfarm payrolls at +65k, slightly above consensus, and an unchanged unemployment rate at 4.1%, suggesting a still-tight labour market. We expect average hourly earnings to rise 0.3% m/m. A solid report could put further pressure on the Fed […] The post US Jobs Report Takes Focus After Strong Services Data appeared first on ActionForex.
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