August Jobs Report Coming... Is The Private Sector About To Deliver A Big Fat Zero?

great depression

Your weekend officially begins at 8:31 today, assuming you’re giving yourself to minute to read the August jobs report that comes out at 8:30.

So what should you expect?

A headline decline of 120k is expected but that includes Census layoffs, so it’s all about the private sector. Goldman Sachs, as Calculated Risk notes, sees a big fat goose egg. Other estimates for private sector creation are in the 20-40K range.

The unemployment rate is expected to tick up tp 9.7%, but given all the noisy factors in this number (who is and isn’t in the workforce, this just isn’t that important of a measure).

Given the recent (modest) firming in the economic data, a strong number would do a lot to really cement the improving sentiment.

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