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Aug 29 - 02:55 PM

USD: Expecting 370k Jobs Added In The US In August With Unemployment Rate Likely Dropped To 3.4% - TD

By eFXdata  —  Aug 29 - 01:30 PM

TD Research discusses its expectations for this week's US jobs report on Friday. TD looks for 370k for NFP (cons: 300k) and 3.4% for unemployment rate (cons: 3.5%).

"Employment likely continued to advance robustly in August but at a more moderate pace following the booming 528k print registered in July. High-frequency data, including Homebase, point to still above-trend job creation," TD notes. 

"We also look for the UE rate to drop by a tenth for a second consecutive month to 3.4%, and for wage growth to advance at a firm 0.4% m/m (5.3% y/y)," TD adds. 

TD Bank Research/Market Commentary


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