The August non-farm payrolls report will be released at 8:30 tonight
According to BlockBeats, on September 2, the US Bureau of Labor Statistics will release the US non-farm payrolls report for August at 8:30 PM Beijing time, which is the last non-farm payrolls report before the Federal Reserve's September FOMC resolution. Major investment banks forecast US August non-farm payrolls data as follows:
Unicredit: August initial jobless claims rose slightly from July, August non-farm payrolls expected to fall to 250,000; Labour force participation is likely to rise as excess household savings are being reduced;
Societe Generale: August nonfarm payrolls are likely to have increased by 300,000, which, if met expectations, would suggest either a return of workers to the labor force or a further decline in the unemployment rate, which is seen holding steady at 3.5 percent.
Commerzbank: US non-farm payrolls are likely to add 375,000 in August. A small number of new jobs is unlikely to weigh on the dollar unless the US recession becomes more pronounced and the Fed becomes cautious.
Wells Fargo: Raised its August nonfarm payrolls forecast to 375,000 from 325,000, but left its August unemployment and average hourly earnings m/m forecasts unchanged at 3.5% and 0.4%;
Citigroup: U.S. jobless claims have stabilized in recent weeks, confidence in continued positive job growth has increased, and August nonfarm payrolls are expected to add 305,000;
Ing: August nonfarm payrolls will likely increase by 250,000. The weaker data is unlikely to hurt the dollar, not enough to undercut market pricing in a Fed rate hike and dollar strength. The (golden) ten