From Kiplinger · · 1m 20s
September Jobs Report Preview
September jobs report shows resilient labor market with 90,000 new jobs expected.
In brief
September jobs report shows resilient labor market with 90,000 new jobs expected. September jobs report expected to add 90,000 jobs with unemployment rate staying at 4.1%. Originally reported by Kiplinger.
Federal Reserve Chair
Federal Reserve Chair Kevin Warsh says unemployment rate is consistent with full employment.
“We believe that the unemployment rate is running basically consistent with full employment”
August Jobs Report
U.S. added 162,000 new jobs in August, far surpassing consensus forecast of 58,000.
“The U.S. added 162,000 new jobs in August, far surpassing a consensus forecast of 58,000”
Job Growth Revisions
June and July job growth upwardly revised to 31,000 and 21,000 from 11,000 and 44,000.
“job growth for June (+11,000 to +31,000) and July (+44,000 to +21,000) was upwardly revised”
ADP Report
ADP National Employment Report shows private payrolls rose by 90,000 in September.
“private payrolls rose by 90,000 in September, up from 36,000 in August”
Sector Trends
Education, healthcare, and leisure and hospitality saw largest job increases while financial activities declined.
“The industries seeing the largest increases in jobs were education, healthcare, and leisure and hospitality”
BLS Release Date
Bureau of Labor Statistics releases September jobs report at 8:30 am Eastern Standard Time on Friday, October 2.
“The Bureau of Labor Statistics will release the next jobs report at 8:30 am Eastern Standard Time on Friday, October 2”
Economist Forecasts
Wells Fargo expects nonfarm payroll growth to slow to 90,000 in September following August's stronger-than-expected gain.
“We expect nonfarm payroll growth to slow to 90K in September following August's stronger-than-expected gain”
Barclays Forecast
Barclays forecasts nonfarm payroll employment grew 50,000 in September with 3-month moving average at 78,000.
“We estimate that nonfarm payroll employment grew 50k in September”
Raymond James
Raymond James expects BLS report to reflect 70,000 jobs added to the economy in September.
“We still expect the BLS report on Friday to reflect 70,000 jobs added to the economy”
Monetary Policy Impact
September jobs report will test economy's underlying health and shape expectations for monetary policy.
“The report will provide one of the most important tests of the economy's underlying health”
The takeaway
September jobs report expected to add 90,000 jobs with unemployment rate staying at 4.1%.
