(Investopedia) What To Expect From Friday's Jobs Report

[Slartibartfast]

What To Expect From Friday's Jobs Report

With the economy at a turning point, Friday's report on job creation will attract even more attention than usual. Forecasters expect it to show August was lackluster for job growth.

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The job market continued to sputter along in its recent low-hiring, low-firing limbo, if forecasts are on target.

Economists predict that a report on Friday from the Bureau of Labor Statistics will show the economy continuing its recent trend of relatively low job growth. Employers likely added 75,000 jobs in August, a slight uptick from the anemic 73,000 added in July, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal.1

They also expect the unemployment rate to tick to 4.3%, slightly higher than the prior month's 4.2% level.

We will see if the Trump administration publishes some wild numbers or if they will match independent surveys.

How Much Can We Trust The Data?

Economists analyzing the August data may scrutinize it more than usual in the wake of last month's report.

Trump fired the BLS director after the organization released an unexpectedly bad July jobs report. The president said the data was "rigged" to make him look bad, but experts have said that is highly unlikely. However, economists have voiced concerns about the quality and reliability of government data going forward.

Given the fresh concerns about BLS data, there may be more eyeballs on private reports on the job market due out on Thursday, a day ahead of the official one. A long-running monthly report on private hiring by payroll provider ADP, as well as the monthly layoff report by consulting firm Challenger, Gray & Christmas could get extra attention

It will be interesting to see if economists rip the jobs report apart or if they move to other surveys so they can get trustworthy data.

 

[Ishm]

Going to be interesting to see how the markets react to whatever number is announced. I think you can be reasonably sure that this latest number will be the most 'optimistic' number possible. With the real number, pre-Trumps 'correction', being significantly lower. So let's say the announcement is 150k jobs to stroke Trumps ego. What will the markets then assume the real number is? 100k, 75k, 50k??? Personally, I will probably assume it is truly about 50% of the given number and make some decisions based on that, but I can also imagine a strong number triggering some buying in the markets regardless of how much credibility it lacks. The real question then becomes - how long can Trump keep the lies going before being exposed?

 

[joluoto]

Trump will cook the books. That what he does.

 

[NuffSaid]

18 million jobs were created in August. Every previous jobs report under Trump will be revised up to 2 million jobs created.

 

[Callen]

Trump will cook the books. That what he does.

I don't know about that. Trump is between a rock and a hard place. He desperately wants to brag about job growth and a strong economy despite tariffs BUT he also desperately wants lower interest rates and a weak jobs number will give Powell the impetus to lower rates in September.

Stupid fool has put himself in a bad position but one thing is certain he will find a way to blame somebody else.

 

[Loulit01]

I expect lies.

 

[Roadvirus]

(Investopedia) What To Expect From Friday's Jobs Report​

Made-up bullshit topped with whip cream & a cherry.