(Updated from 8:34 a.m EDT)
) came in weaker than expected. Nonfarm payrolls fell 105,000 in August, but they would have risen by 102,000 if not for the
employment report isn't exactly cut and dry. The nonfarms payroll, which shows the new jobs that were created during August, are affected by the shrinking Census payroll and make the number smaller than it would otherwise be. Also, the main number factors out the 90,000 Verizon workers who took to the picket lines during August, but are now back to work.
The closely watched measure seems to confirm that the pace of economic growth is slowing.
Purchasing Managers' Index
) comes out later this morning.
Nonfarm payrolls for August. Source:
Labor Department. Actual: -105,000. Forecast: +7,000. Previous: -108,000.
Average hourly earnings for August. Source:
Labor Department. Actual: 0.3%. Forecast: +0.3%. Previous: +0.4%.
Unemployment rate for August. Source:
Labor Department. Actual: 4.1%. Forecast: 4.0%. Previous: 4.0%.
Forecasts are from