The August jobs report came in on the weak side, raising concerns that the Fed’s gradual tightening path could become glacial in the year ahead.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Sept. 1.
- The increase in the U.S. unemployment rate to 4.4% in August is perhaps the most discouraging data point in the release.
- According the the latest Fed dot-plot, the median FOMC expectation is for one more quarter-point rate hike in December and three more quarter-point moves in 2018 and 2019.
- The September jobs numbers will not add much clarity, since we expect Hurricane Harvey to reap havoc on the payroll numbers and further cloud the economic outlook.
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The Bureau of Labor Statistics reported another all-around solid jobs report for July.Read More ›
Overall this was a solid payroll report that reinforces the notion that the U.S. labor market remains a bright spot for the U.S. economic expansion.Read More ›
The labor market’s resilience and strength were on full display in April.Read More ›
While the headline number was a disappointment, the details in the report revealed underlying labor market strength and momentum.Read More ›