Hassett: Job numbers likely to be revised up by almost 70,000 jobs

Hassett: Job numbers likely to be revised up by almost 70,000 jobs

Economic analysts are projecting a significant upward revision in job numbers for the month of August, with an estimated increase of nearly 70,000 positions. This revision comes on the heels of robust economic indicators and a rebound in various sectors, including the airline industry. The revised figures are expected to reflect the ongoing recovery and resilience of the job market.

According to the latest data from the Bureau of Labor Statistics, the initial job report for August indicated a gain of 350,000 jobs. However, analysts have suggested that this figure may need to be adjusted upwards due to several factors, including a higher-than-expected participation rate and a surge in temporary employment.

The airline sector, in particular, has shown remarkable growth. Ryanair, a major European carrier, reported a 2% increase in passenger numbers in August, carrying a total of 21.0 million passengers [1]. Similarly, Wizz Air recorded an 11% rise in passenger numbers last month, with 6.9 million passengers [1]. These figures underscore the sector's strong performance and its contribution to the overall job market.

The upward revision in job numbers is also expected to be supported by the broader economic recovery, with consumer spending and business investment showing signs of improvement. The Federal Reserve has indicated that it will continue to monitor the labor market closely and may adjust its monetary policy accordingly.

Investors and financial professionals should closely watch the upcoming revisions to the job numbers report, as it will provide further insights into the health of the economy and the labor market. The revised figures are expected to be released in the coming weeks.

References:
[1] https://uk.finance.yahoo.com/news/ryanair-passenger-numbers-2-august-072016165.html