On Friday, the US September official employment report will be released. Analysts at Wells Fargo, look for nonfarm payrolls to rise by 820K. They warn the positive trajectory of the labor market is slowing.
“Payroll growth is positioned to remain positive, but on a slowing trajectory, following more rapid gains in prior months. We look for nonfarm employers to add a net 820K jobs in September. If our call is realized, employment would still be 7.0% below its pre-pandemic level.”
“Forward-looking employment indicators are mixed, with initial jobless claims remaining stubbornly high on one hand, and business surveys suggesting varying degrees of ongoing improvement in hiring on the other.”
“Even though the unemployment rate fell more than expected in August, we look for it to decline again in September to 8.2%.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.