A heads up from the White House about the jobs report due Friday ,,, jobs growth slowing

Remarks out of the White House from Press Secretary Karine Jean-Pierre ahead of Friday’s (September 2) nonfarm payrolls report.

Says the White House is anticipating a slowing in jobs growth, that employment data is going to ‘cool off’.

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Dunno how JP is going to go with this call on jobs. If you recall past CPI reports the comments (and then lack of comments) coming out of the White House in the days leading up to them were instructive. When prices were surging the administration were quick to get out ahead of the bad news, softening us up for a high CPI. Then, more recently, as prices have not been surging as strongly (July was 0% m/m) there were a lack of such comments out of the administration ahead of the release.

Long story short is its probably worthwhile keeping an ear out. In this case, the headline NFP looks like it’ll slow somewhat on the basis of these remarks.

Coming up on Friday this week: