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Jobs week — What you need to know this week

Jobs week — What you need to know this week

And just like that, it’s jobs week in America again.

On Friday, the August jobs report will drop ahead of the three-day Labor Day weekend, with economists expecting another strong month from the U.S. labor market.

According to estimates from Bloomberg, Wall Street is looking for nonfarm payrolls to grow by 180,000 in August with the unemployment rate expected to stay steady at 4.3%. Brett Ryan, an economist at Deutsche Bank, wrote Friday that Amazon’s (AMZN) hiring initiative undertaken during July could skew this figure higher.

Economic calendar

    Monday:

Wholesale inventories, July (+0.3% expected; +0.7% previously); Dallas Fed manufacturing activity (16.8 expected; 16.8 previously)

    Tuesday:

S&P Case-Shiller home price index, June (+0.1% expected; +0.1% previously); Conference Board consumer confidence, August (120 expected; 121.1 previously)

    Wednesday:

ADP private payrolls, August (+185,000 expected; +178,000 previously); Second quarter GDP, second estimate (+2.7% expected; +2.6% previously)

    Thursday:

Initial jobless claims (236,000 expected; 234,000 previously); Personal income, July (+0.3% expected; 0% previously); Personal spending, July (+0.4% expected; +0.1% previously); “Core” PCE, year-on-year, July (+1.4% expected; +1.5% previously); Chicago PMI, August (58.9 expected; 58.9 previously); Pending home sales, July (+0.5% expected; +1.5% previously)

    Friday:

Nonfarm payrolls, August (+180,000 expected; +209,000 previously); Unemployment rate, August (4.3% expected; 4.3% previously); Average hourly earnings, month-on-month, August (+0.2% expected; +0.3% previously); Average hourly earnings, year-on-year, August (+2.6% expected; +2.5% previously); Markit U.S. manufacturing PMI, August (52.7 expected; 52.5 previously); ISM manufacturing PMI, August (56.5 expected; 56.3 previously); University of Michigan consumer sentiment, August (97.3 expected; 97.6 previously); Construction spending, July (+0.5% expected; -1.3% previously); Auto sales, August (16.6 million vehicles annualized; 16.7 million previously)

Full Article: Yahoo Fianance

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