The labor market likely took a step back in August, an outcome that could compel the Federal Reserve to pump additional money into the sluggish economy.
Growth in nonfarm payrolls is expected to have slowed last month to 125,000 from 163,000 in July, according to a Reuters survey of economists. The unemployment rate is seen holding steady at 8.3 percent.
The elevated jobless rate has put the economy front and center in the race for the White House, endangering President Barack Obama's hopes for a second term.
A weak jobs report from the Labor Department on Friday could rob Obama of any momentum he hoped to gain with his speech at the Democratic National Convention on Thursday.
via Reuters
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
