August Payrolls Forecasted to Rise by 53,000 Amid Stable Unemployment

According to the Dow Jones consensus estimate, nonfarm payrolls are expected to rise by 53,000 in August. This follows a net loss of 3,000 jobs in June and July.

The unemployment rate is forecasted to remain at 4.1%. However, initial August payroll figures have been revised lower in each of the past four years, adding to scrutiny of the first reading.

Dan North, senior economist for Allianz Trade North America, described the labor market as 'stable but unexciting.' Companies have avoided widespread layoffs, while weekly jobless claims have remained contained.