Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
An additional 585,000 people may have become employed in the U.S. in August, according to a St. Louis Fed analysis of real-time data from employee scheduling software provider Homebase, economist Max Dvorkin told MNI.
The St. Louis Fed's Coincident Employment Index has remained "roughly flat" before seasonal adjustments over the last few weeks, "which suggests that non-seasonally adjusted employment has not changed much recently," Dvorkin said. But strong positive seasonality factors lifted the -100,000 unadjusted number to a solid employment gain for the month. The figures correspond to the BLS's household survey.
Markets are expecting Friday's jobs report to show U.S. payroll gains slowing to a still-robust 300,000 from 528,000 a month earlier, based on the BLS establishment survey. A stronger-than-expected showing could be negative for stocks and positive for bonds as it would add to the case for a 75 basis point hike from the Fed in September after Chair Powell's hawkish Jackson Hole speech.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.