Analysts Say U.S. Jobs Report Could Support Waller's View of the Labor Market

BlockBeats reported on August 30 that economists expect the U.S. Bureau of Labor Statistics’ monthly jobs report on Friday to show nonfarm payrolls rising by 55,000 in August, after July employment unexpectedly fell. If that forecast proves correct, the gain would be roughly in line with this year’s average monthly increase, while the unemployment rate is expected to stay at 4.1%. Analyst Anna Wong said Waller’s hawkish speech at Jackson Hole increased the odds of a September rate hike and changed expectations for how the market should read next week’s data. She said the August nonfarm payrolls report is still the headline number, but the expected weakness may not be as decisive as it usually is. Waller described the labor market as healthy and said slower job growth is often a demographic issue rather than a recession signal.