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August Employment Report Preview

TedTed
in Off-Topic
FYI: Heading into Friday’s Non-Farm Payrolls (NFP) report for August, economists are expecting an increase in payrolls of 219K, which would be an ever so slight improvement from last month’s reading of 210K. In the private sector, economists are expecting an increase of 205K, which would be a slight decline of 5K from the initial reading in July. Economists are also forecasting the unemployment rate to drop down to 5.2%. Finally, growth in average hourly earnings is expected to remain unchanged at 0.2%, while hours worked is forecast to drop to 34.5.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/august-employment-report-preview/

Comments

  • Sven
    Oil service related jobs have been hit hard this year. Yet the month to month employment figures don't seem to reflect that. What other sectors are growing enough to compensate the loss figure?
  • Old_JoeOld_Joe
    Perhaps there's been significant growth in the sector responsible for generating government statistics?
  • hank
    edited September 2015
    Back to school - Teachers, bus drivers, secretaries. etc.
  • Old_JoeOld_Joe
    @Hank- I was kidding of course, but you raise an interesting question re school- are those occupations really calculated as being "unemployed" during the summer?
  • scott
    http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/08/waiters vs mfgers.jpg
  • Sven
    @Scott, we are still recovering only six and a half years ago.
  • catch22catch22
    Teachers I know in Michigan continue to receive their wage spread throughout the summer break, while they are away from active teaching, but do have a contract indicating employment with the expiration of "summer break".

    All indications point toward the fact that "educators" are not part of the unemployment numbers strictly based upon a "seasonal" factor of a "scheduled break in the school year" based upon an agreed employment contract.

    The following appears to be the norm:

    School employees and educators may be entitled to collect unemployment insurance but have a different criteria to determine eligibility for unemployment insurance.

    Are you eligible to collect? Professional and non-professional employees of educational institutions, educational service agencies and certain other educational employers may be eligible for unemployment ONLY if they do not have a contract or if their employer has not provided written reasonable assurance of their employment for the following year, academic term or for the period following a school vacation. State law requires each educational institution to provide reasonable assurance in writing to those individuals who will be unemployed during the summer and will return to work once the summer break or vacation period ends. If teachers, professional and non-professional educational employees DO have a contract or written reasonable assurance of employment, they are ineligible to collect unemployment insurance benefits using their educational wages during the vacation period or the period between academic terms.

    Other related here:

    https://www.google.com/?gws_rd=ssl#q=are+school+teachers+considered+unemployed+during+summer+months
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