US Jobs Report Rebounds in August as Fed Eyes Rate Hike

US payrolls growth rebounded in August, coming in at 55,000 after an unexpected dip in July. This is broadly in line with average job growth this year.

The unemployment rate is seen holding steady at 4.1 percent, based on a survey of households rather than establishments.

Fed Chairman Kevin Warsh said the stable job market has fueled consumer spending and allowed the broader economy to forge ahead.

Warsh's comments, made at the US central bank's annual conference in Wyoming, raised the odds of a rate hike in September above 50 percent. Investors will be looking for clues about inflation from industry reports, including the Institute for Supply Management's manufacturing survey on Tuesday and services version on Thursday.