A NFP Gain Over 200K+ Will Mean A Rate Hike This Year
Sep, 04th 03:33
Falling stock markets and slowing Chinese growth have sparked fresh worries about the global economy, but the U.S. continues to outperform the rest of the world.
The Labor Department on Friday morning will release the most recent monthly employment report and another rock-solid gain of 200,000-plus is expected. But August is often a tricky month because so many people are on vacation, making it harder for the government to figure out how many jobs were created.
The U.S. is likely to show a net gain of 213,000 new jobs in August, according to forecast. That would be a virtual repeat of July and hew to the 2015 monthly average of 211,000.
Any gain over 200,000 would be seen as a sign the Fed will stay on course to raise interest rates this year, though a hike in September is viewed as increasingly less likely.
So sit tight and wait for today’s NFP data which is due as usual today during the early New York session.