Reuters has its own predictions based on polls. These types of predictions have been way off base lately. Usually the news is worse than anticipated in recent weeks especially surrounding jobs. The news will have many angles though, and so one might suspect that within the report there will be a few bright spots.
I must say, from a blogger's point of view, its getting extremely old pointing out this same dreary news month after month after month.
Reuters: Jobs data to show severity of malaise
Economists polled by Reuters forecast an August drop of 99,000 non-farm jobs after a fall of 131,000 in July. The unemployment rate is expected to tick higher, to 9.6 percent from 9.5 percent.
The Reuters poll forecasts a 0.1 percent gain in average earnings and a slight gain in weekly hours. Private payrolls are expected to rise by 42,000 after a 71,000 rise in July.
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