Attention is set to turn to the August US employment report. Forecasts point to nonfarm payrolls rebounding to 80K, while the unemployment rate is seen edging up to 4.2% and average hourly earnings rising 0.3% month on month, which would keep wage growth in the low-3% range year on year. The broader read-through is for continued, subdued job gains alongside low layoffs and steady wage growth, suggesting a gradual cooling rather than a sharp weakening in labour market conditions.
US Labour Market Outlook
Attention is set to turn to the August US employment report. Forecasts point to nonfarm payrolls rebounding to 80K, while the unemployment rate is seen edging up to 4.2% and average hourly earnings rising 0.3% month on month, which would keep wage growth in the low-3% range year on year. The broader read-through is for continued, subdued job gains alongside low layoffs and steady wage growth, suggesting a gradual cooling rather than a sharp weakening in labour market conditions.
Global Economic Calendar Highlights
A packed international diary is also expected to add colour to the global growth and inflation picture. Australia is projected to remain resilient even with slower growth in Q2, while India is expected to stay among the fastest-growing major economies as momentum eases from Q1. Brazil’s expansion is anticipated to lose pace after a robust start to the year. In Europe, Eurozone inflation is forecast to accelerate, supporting the case for a September ECB rate rise, and attention will also fall on Canada’s jobs report and a Bank of Canada decision against the backdrop of escalating US trade tensions.
