aluxum/E+ via Getty Images
The U.S. economy has been giving off mixed signals this year, with GDP falling for two straight quarters, while the number of jobs continues to grow. Federal Reserve Chair Jerome Powell has repeatedly called the labor market unusually strong in recent months.
Markets will see how strong it was in August when the Department of Labor issues its Employment Situation Summary on Friday. Economists are expecting 293K jobs will be added to nonfarm payrolls, down from the larger-than-expected 528K added in July. Meanwhile, the unemployment rate is expected to stay at 3.5%, a 50-year low.
“My expectation is that we are going to see strong employer demand for workers,” said AnnElizabeth Konkel, senior economist at job-posting website Indeed, in an interview with Seeking Alpha. “I don’t know the magnitude of what that will be, but it will show that employers continue to hire workers.”
“If the consensus among…
