August Jobs Report – 8:30am EST
Update – 8:30 EST: Obama to address these numbers later today-
UE rate up to 9.6% Payrolls down 54k, private payrolls added 67k. July revised losses in half from down 130k to down 54k, much better than expected, won’t keep pace with population growth much less sop up the unemployed workers, but the ADD markets like it, DOW futures up sharply on the data.
‘Consensus’ estimates from CR:
…The consensus is for a headline payroll number of minus 90,000 and for the unemployment rate to increase to 9.6% in August from 9.5% in July.
Goldman Sachs is forecasting a minus 125,000 headline payroll number, with no change in private employment and minus 115,000 decline in decennial Census employment. That gives a negative 10,000 ex-Census….