Unemployment Rate Unexpedctedly Tumbles As August Payrolls Come In Line
Fri, 09/04/2020 – 08:35
Amid a wide range of sellside estimates, and a whisper number that was either too high or too low depending on whom you asked, moments ago the BLS reported that in August, the number of payrolls was almost unexpectedly in line with consensus expectations: according to the August jobs report, some 1.371MM payrolls were created, essentially on top of the 1.35MM expected.
Where there was a surprise was in the unemployment rate, which unexpectedly tumbled from 10.2% in July to 8.4%, smashing expectations of a 9.8% print. It looks like Trump wants to go into the November elections with a 7% or lower unemployment rate.
Source : zerohedge.comFollow us: