by Calculated Risk on 9/03/2020 09:00:00 PM

My August Employment Preview

Goldman August Payrolls Preview

Friday:
• At 8:30 AM ET, Employment Report for August. The consensus is for 1.40 million jobs added, and for the unemployment rate to decrease to 9.8%.

Click on graph for larger image.

This graph shows the job losses from the start of the employment recession, in percentage terms through July.

The current employment recession is by far the worst recession since WWII in percentage terms, and the worst in terms of the unemployment rate.