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Friday: Employment Report

My August Employment Preview

A few brief excerpts from a note by Goldman Sachs economist Spencer Hill:
We estimate nonfarm payrolls rose 500k in August, below consensus of +725k. … we expect the reopening of schools to boost job growth by around 150k in tomorrow’s report. … We estimate a two-tenths drop in the unemployment rate to 5.2% … reflecting a firm household employment gain and a stable participation rate.
emphasis added
Friday:
• At 8:30 AM ET, Employment Report for August.   The consensus is for 728 thousand jobs added, and for the unemployment rate to decrease to 5.2%.

• At 10:00 AM, ISM Services Index for August.

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