Nonfarm Payrolls for August came out this morning and showed that the US added 151,000 jobs for the month.  That was 29,000 weaker than the consensus economist estimate of 180,000.  Using our Interactive Economic Indicators Database (available to Bespoke Institutional members), we looked back at all August NFP reports since 1998.  As shown below, this was the sixth consecutive year that the August jobs report missed estimates going back to 2011.  Since 1998, 15 of 19 August jobs reports have missed estimates, so today’s miss was definitely not out of the norm!

augustjobs

 

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