Heading into Friday’s Non-Farm Payrolls (NFP) report for August, economists are expecting an increase in payrolls of 219K, which would be an ever so slight improvement from last month’s reading of 210K. In the private sector, economists are expecting an increase of 205K, which would be a slight decline of 5K from the initial reading in July. Economists are also forecasting the unemployment rate to drop down to 5.2%. Finally, growth in average hourly earnings is expected to remain unchanged at 0.2%, while hours worked is forecast to drop to 34.5.
Earlier today, we sent out our monthly preview to the Non Farm Payrolls report, which includes a summary of how secondary indicators of employment covering the month of August have come in so far, how the NFP report typically comes in relative to expectations in August, and then how the overall market and individual stocks have performed on prior NFP days based on whether or not the report was better or weaker than expected. This report is an excellent tool for anyone looking to gain valuable insight and perspective into how the market typically reacts to the report. To view this publication, sign up for a no obligation trial to Bespoke Premium today and you can get it for free. Click the button below to continue.