Employment Expected to Show Strength

October 4, 2021

Employment Expected to Show Strength Photo

The September employment report will be released this Friday and expectations are for the jobs report to show strength for the month. Coming off a lackluster August report, an uptick in new jobs is expected despite the ongoing pandemic. The expectation is for approximately 470,000 new jobs and a drop in the unemployment rate to 5.1%.

With all of the back and forth in Washington surrounding infrastructure and reconciliation legislation, a key piece of economic data that didn’t get much attention last week was the uptick in the Personal Consumption Expenditures (PCE) price gauge, which rose to 4.3% year-over-year. This indicator, which is preferred by the Federal Reserve (Fed) for measuring inflation, stood at its highest level since 1991.

The next few weeks could bring an increase in the volatility seen in markets over the past few weeks. The debt ceiling, which needs to be resolved by mid-October, and the reboot of the administration’s economic priorities, which has been pushed off for passage until late October, both have the potential to create uncertainty and volatility.

Tags: Monday Morning O'Malley | Employment data | Employment Report | Jobs report

< Go to Monday Morning O'Malley

This blog post is for informational use only. The views expressed are those of the author, Dave O’Malley, and do not necessarily reflect the views of Penn Mutual Asset Management. This material is not intended to be relied upon as a forecast, research or investment advice, and it is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy.

Any statements about financial and company performance of The Penn Mutual Life Insurance Company or its insurance subsidiaries (each, “Client”) made by the author is provided with a written consent from the Client.  Penn Mutual Asset Management is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.

Opinions and statements of financial market trends that are based on current market conditions constitute judgment of the author and are subject to change without notice.  The information and opinions contained in this material are derived from sources deemed to be reliable but should not be assumed to be accurate or complete.  Statements that reflect projections or expectations of future financial or economic performance of the markets may be considered forward-looking statements.  Actual results may differ significantly.  Any forecasts contained in this material are based on various estimates and assumptions, and there can be no assurance that such estimates or assumptions will prove accurate.

Investing involves risk, including possible loss of principal.  Past performance is no guarantee of future results.  All information referenced in preparation of this material has been obtained from sources believed to be reliable, but accuracy and completeness are not guaranteed. There is no representation or warranty as to the accuracy of the information and Penn Mutual Asset Management shall have no liability for decisions based upon such information.

High-Yield bonds are subject to greater fluctuations in value and risk of loss of income and principal. Investing in higher yielding, lower rated corporate bonds have a greater risk of price fluctuations and loss of principal and income than U.S. Treasury bonds and bills. Government securities offer a higher degree of safety and are guaranteed as to the timely payment of principal and interest if held to maturity.

All trademarks are the property of their respective owners. This material may not be reproduced in whole or in part in any form, or referred to in any other publication, without express written permission.

Subscribe to Our Publications