The Trial Balance is CFO’s weekly preview of stories, stats and events to help you prepare.
Part 1 — US jobs report: Economy adds 142,000 jobs, maybe?
Data from Friday’s Bureau of Labor Statistics August jobs report indicates the current job market is underwhelming, with government estimates showing the economy added approximately 142,000 non-farm jobs. However, the accuracy of these numbers — subject to significant revisions in recent months — remains debatable.
If taken at face value, the numbers suggest an economic shift toward job growth within part-time and low-wage work. The influence of record immigration is also evident in the job market, according to the data.
Here are the key figures that stood out:
- Full-time jobs: -438,000
- Part-time jobs: +527,000
- Number of unemployed workers YoY: +800,000
- People in the labor force who “currently want a job who are not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job” (essentially unaccounted for unemployed workers): 5.6 million
- Total unemployed, plus all persons marginally attached to the labor force, plus total employed part-time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force: 7.9% (highest reading since October 2021)
- Jobs for native-born Americans YoY: -1.3 million
- Jobs for foreign-born workers YoY: +2 million
— Adam Zaki
Part 2 — This week
Here’s a list of important market events slated for the week ahead.
Monday, Sept. 9
- Wholesale inventories, July
Tuesday, Sept. 10
- NFIB optimism index, Aug.
Wednesday, Sept. 11
- Consumer price index, Aug.
- CPI year over year
- Core CPI, Aug.
- Core CPI year over year
Thursday, Sept. 12
- Producer price index, Aug.
- Core PPI, Aug.
- PPI year over year
- Core PPI year over year
Friday, Sept. 13
Consumer sentiment (preliminary), Sept.
Part 3 — CFO Live: The Future of Finance
On Sept. 10, CFO.com will host CFO Live: The Future of Finance, a free virtual event catered towards finance leaders seeking insight on everything corporate finance. Speakers include Tim Naddy of the Savannah Bananas, Amy Butte of Navan, Eric Mason of the City of Quincy, Massachusetts, Glenn Hopper of Eventus and John Cappadona of EverSmith Brands.
