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2 Sept 2022 US Monitor Upside Risk for August Payrolls, but the Seasonal is a Wild Card

Ian Shepherdson (Chief Economist and Founder)1st Sep 2022 15:03U.S., Daily Monitor

The Homebase data point to another solid payroll gain, but the August seasonal is a wild card.
Wage growth appears to be picking up slightly, but we need more data to be sure.
The ISM has stabilized, and the supply-chain measures point to much lower inflation.

domestic demand domestic demand growth employment employment growth gdp growth government ism ism manufacturing ism manufacturing index July June local government manufacturing manufacturing index payroll payroll growth payrolls pmi private payroll private payrolls recession September summer tax revenues trade unemployment unemployment rate wage growth wages

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