Hiring probably slowed in August, as the US-China trade war raged

• The US employment report announced Friday is expected to show that hiring slowed in August but that it has held up at a brisk pace, offering the latest official snapshot of the hiring. economy a few weeks after the outbreak of an important warning about the recession.
• Economists expect the Ministry of Labor report will show that the US added 160,000 non-farm jobs last month.
• That would be less than what it was in July before, but enough unemployment at 3.7% near the historic lows.
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The US employment report announced Friday is expected to show that hiring slowed in August but that it has held up at a brisk pace, offering the latest official snapshot of the hiring. economy a few weeks after the outbreak of an important warning about the recession.

Economists predict the Ministry of Labor's report will show that the US added 160,000 non-farm jobs last month, down from July but with unemployment levels near historic lows of 3.7% . Average hourly earnings are expected to increase by 0.3%, as in the previous month.

"While specific sectors are suffering from the trade war, the labor market overall remains fundamentally sound," said Daniel Zhao, senior economist at Glassdoor.

The uncertainty of trade tensions between the United States and China has become increasingly evident in recent weeks, fueling broader concerns about the economy. In a rare development that historically preceded recessions, the yield curve reversed last month for the first time since the global financial crisis.

It is unlikely that the 107th record month of job creation dampens the market's hope that the Federal Reserve will further lower its interest rates later this month. The United States and China lifted tariffs over the weekend and pledged to expand them to more consumer products, measures that could slow down investment and spending.

"The reduction in profit margins, the disappointment of corporate profits and the drop in fixed investment in companies in the second quarter – which defined the response to radical changes in trade policy – should lead to a reduction in hours of work, in terms of layoffs, and subsequently downsizing, "said Joseph Brusuelas, chief economist at RSM.

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