Forex
US Jobs Report Expected to Show Steady Labor Demand Amid Inflation Concerns
The US jobs report for August is expected to show a 55,000 increase in payrolls, consistent with steady labor demand and limited layoffs. This outcome would be in line with average job growth this year.
Fed Chairman Kevin Warsh said that the stable job market has fueled consumer spending and allowed the broader economy to forge ahead, but inflation remains above the Fed's 2% goal.
The jobs report will provide clues about inflation, which is a key concern for the Federal Reserve. The Institute for Supply Management will release its manufacturing survey on Tuesday, followed by the services version on Thursday, both of which include measures of prices paid for materials.