Reuters’ Lucia Mutikani reports:
- The number of Americans filing new claims for unemployment aid fell to near a 49-year low last week and private payrolls rose steadily in August
- According to a Reuters survey of economists, nonfarm payrolls likely increased by 191,000 jobs in August, which would be an acceleration from the 157,000 jobs created in July.
- The unemployment rate is forecast slipping one-tenth of a percentage point to 3.8 percent, revisiting an 18-year low touched in May.
- The economy grew at a 4.2 percent annualized rate in the second quarter, the fastest in nearly four years.
- The economy’s vibrancy was underscored by a report on Thursday from the Institute for Supply Management (ISM) showing its non-manufacturing activity index increased 2.8 points to 58.5 last month.
- A report from the Labor Department showed nonfarm productivity, which measures hourly output per worker, increased at an unrevised 2.9 percent annualized rate in the April-June quarter. That was the strongest pace since the first quarter of 2015.
Read more here.