The Independent Market Observer

Economic Release Snapshot: Hiring Stays Strong in August

Posted by Sam Millette

This entry was posted on Sep 6, 2022 9:00:15 AM

and tagged In the News

Leave a comment

Monday UpdateEach week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead. 

Reports for the Week of August 29

Conference Board Consumer Confidence (Tuesday)

  • Expected/prior Consumer Confidence Index: 98.0/95.3
  • Actual Consumer Confidence Index: 103.2

Consumer confidence increased by more than expected during the month, breaking a streak of three consecutive months of declining confidence.

ISM Manufacturing (Thursday)

  • Expected/prior ISM Manufacturing index: 51.9/52.8
  • Actual ISM Manufacturing index: 52.8

Manufacturer confidence remained unchanged during the month, which was better than economist estimates for a modest decline. This result signals continued growth for the manufacturing industry.

Employment report (Friday)

  • Expected/prior monthly job growth: 298,000/526,000
  • Actual monthly job growth: 315,000
  • Expected/prior unemployment rate: 3.5%/3.5%
  • Actual unemployment rate: 3.7%

More jobs than expected were added in August. The unemployment rate also increased by more than projected during the month; however, this was due to a strong increase in the labor force participation rate.

Upcoming Reports for the Week of September 6

ISM Services (Tuesday)

Economists expect to see service sector confidence decline modestly during the month yet remain in expansionary territory.

Trade balance (Wednesday)

The trade deficit is set to narrow for the fourth month in a row, which would bring the monthly deficit back to levels last seen in late 2021.

Subscribe via Email

Crash-Test Investing
New call-to-action

Hot Topics

New Call-to-action



see all



The information on this website is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation.

Certain sections of this commentary contain forward-looking statements that are based on our reasonable expectations, estimates, projections, and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Past performance is not indicative of future results. Diversification does not assure a profit or protect against loss in declining markets.

The S&P 500 Index is a broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks. All indices are unmanaged and investors cannot invest directly in an index.

The MSCI EAFE (Europe, Australia, Far East) Index is a free float‐adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. The MSCI EAFE Index consists of 21 developed market country indices.

One basis point (bp) is equal to 1/100th of 1 percent, or 0.01 percent.

Third-party links are provided to you as a courtesy. We make no representation as to the completeness or accuracy of information provided on these websites. Information on such sites, including third-party links contained within, should not be construed as an endorsement or adoption by Commonwealth of any kind. You should consult with a financial advisor regarding your specific situation.


Please review our Terms of Use

Commonwealth Financial Network®