The August employment report looks pretty sweet on the surface.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Sept. 7.Key observations:
- The job report was also peppered with a number of major sectors that lost net new jobs in August.
- The manufacturing sector job loss last month could be the first sign of negative fallout from the Trump administration’s trade policies.
- Average hourly earnings increased 0.37% in August, the fastest monthly pace since December.
- This data virtually ensures another rate hike from the Fed at the September FOMC meeting and raises the probability of another in December.
The moderate pace of wage growth since the end of the Great Recession is unusual compared to previous expansions.Read More ›
Net new job creation is cooling off.Read More ›
Investors just received two pieces of news that challenge the sanguine views of the U.S. economy and the economic outlook.Read More ›
February’s jobs gain is more than three times the pace the Fed believes is necessary on a monthly basis to keep the unemployment rate steady.Read More ›