August Employment Report Preview, Where Jobs are Being Created
PNC is expecting the unemployment rate to come in at 6.1%. Senior macro economist at PNC, Augustine Faucher, sees broad-based job creation and growth across the board.
Stocks turned negative to close lower Thursday as the exuberance over the European Central Bank's unexpected rate cut fated and investors got cautious ahead of Friday's August Jobs Report. Augustine Faucher is the senior macro economist at PNC Financial (PNC) and says 'wages is the key data to watch' and 'labor force participation rate is still at its lowest level in 40 years.' Faucher sees broad-based job creation and growth across the board including professional business services, manufacturing and construction. PNC is expecting the unemployment rate to come in at 6.1% with 230,000 total jobs created in August.
