It estimates that the 'Employment Situation' report published tomorrow will say around 255,000 jobs were added in August in the world’s biggest economy, the seventh month in row the figure has topped 200,000.
This view is based on analysis of unemployment claims data carried out by Fathom which has found that these numbers are now back to pre-crisis levels.
Signals coming from the market give weight to this view with yield on ten-year US treasuries rising close to 10 basis points during trading this week. Fathom said if the number does reach the 255,000 level then treasuries prices are unlikely to recover and could fall further.
It is a busy week for economists as earlier today (4 September) the European Central Bank announced a further 0.1% cut to interest rates while the Bank of England confirmed rates have been left on hold for another month.
Keep an eye on the Portfolio Adviser website for our analysis of the situation.
