Analysts at Danske Bank expect a solid US August jobs report today as the US labour market and domestic economy is doing well, despite trade war related disruption.
Key Quotes
“We estimate average hourly earnings rose 0.2% m/m, which would leave the annual growth rate unchanged at 2.7% y/y.”
“We think non-farm payroll rose 200,000, making up for some of the disappointment in July when payrolls came in at 157,000.”
“The unemployment rate was likely unchanged at 3.9%. The report is very unlikely to change the Fed’s plan to deliver two more hikes this year.”
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