On Friday we will get the latest look at the nation’s employment situation.
The consensus of the “experts” is that 170,000 jobs were created in August. That would be slightly better than the 164,000 in July.
The unemployment rate is expected to remain at 3.7%.
There don’t appear to be any exaggerated estimates by the Labor Department in August. So Friday’s number won’t be tampered with much.
Traders will be looking to see if the tariff war with China is having any impact on employment.
But remember, the Labor Department said last month that its new job count was off by 20% for the year ended in March. So whatever job gains are reported for August should be taken with a pillar of salt.
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