It’s numbers week in the U.S. again. The time of the month when the official government employment data makes its appearance, influencing stock markets worldwide, and corporate hiring decisions nationally.
Predictions of what Friday’s labor report from the U.S. Bureau of Labor Statistics will show are already beginning to appear. A Dow Jones Newswire survey of economists says that on average they expect the U.S. to have lost 110,000 jobs during August. That’s mostly due to the continuing layoff of temporary Census workers.
Because of the massive Census hiring, analysts have been paying closer attention to developments in private sector hiring. In July, the BLS said 71,000 non-government jobs were created, though the Census layoffs resulted in a total loss of 141,000 jobs. (Both those numbers are likely to be adjusted in the Friday release.)
Tomorrow (today), we get a preview of what may be in store when ADP releases its National Employment Report. The payroll processor uses its data to estimate the monthly change in private sector employment. While the numbers are usually lower than the government’s, they tend to accurately predict whether jobs were added or lost. Leer más “Consumer Confidence Improves, But Jobs Numbers Hard to Predict”