Analyst: The US jobs report is expected to support Walsh’s view on the labor market.

Economists forecast that the U.S. Bureau of Labor Statistics’ monthly jobs report, due out Friday, will show nonfarm payrolls rose by 55,000 in August, following an unexpected decline in July employment. If realized, this figure will align roughly with the average monthly gain recorded so far this year. The unemployment rate is projected to hold steady at 4.1%. Analyst Anna Wong stated that Fed official Christopher Waller’s hawkish remarks at the Jackson Hole Symposium have increased the likelihood of a September interest rate hike and altered market expectations for how next week’s data should be interpreted. The August nonfarm payrolls report remains a key headline data point, but its projected weak performance may not carry as much decisive influence as usual. Waller characterized the labor market as being in good health, noting that slowing job growth is often a demographic issue rather than a sign of recession. (Jin10)