Key Focus in U.S. Data Today Is Wages, Says Cook
The number of Americans filing applications for unemployment benefits rose last week to a level that still underscores health in the labor market. Jobless claims rose by 3,000 to 269,000 in the week ended July 30, a report from the Labor Department showed Thursday in Washington. The consensus among economists polled by Bloomberg anticipates an increase in July non-farm payrolls of 180k (171k private), slightly above the six-month average of 172k but below the 12-month average of 204k. The range of forecasts spans 140k to 240k. The near-term performance of the labor market is far more consequential than merely determining the timing of the next Federal Reserve policy move. World First Chief Economist Jeremy Cook discusses with Bloomberg's Anna Edwards on "Countdown."
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