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Aug Employment Preview

US DATA

TD strategists estimate take for Fri's Aug employment report:

  • Payrolls probably rose strongly by pre-COVID standards, but with the pace slowing again." TD estimates a "decline of 11.9mn since February, down from 22.2mn through April but still consistent with a huge net increase in slack."
  • TD's "forecast allows for about a 240k rise in temporary census workers. The unemployment rate likely remained historically high."

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