Analysts: US Employment Report Expected to Support Waller's View on Labor Market

On August 30, economists expect the monthly employment report released by the US Bureau of Labor Statistics on Friday to show a gain of 55,000 nonfarm payrolls in August, following an unexpected decline in July. If so, this result would be broadly in line with the average monthly increase seen so far this year. The unemployment rate is expected to hold at 4.1%.

Analyst Anna Wong stated that Waller's hawkish speech at Jackson Hole has raised the likelihood of a September rate hike and shifted market expectations for how next week's data should be interpreted. The August nonfarm payroll report remains the headline data point, but the anticipated weak performance may carry less decisive weight than usual. Waller described the labor market as in good health, noting that slowing job growth often reflects demographic issues rather than a recession. (Jin Shi)

[TechFlow]