Economist Forecasts Potential Upswing in August Employment Data

Anna Wong, a Bloomberg economist, anticipates potential adjustments to the upcoming non-farm payroll report. Wong suggests that while initial employment figures might not reflect the true picture, they will likely be revised upwards. This prediction is based on historically lower response rates during August due to factors like vacations, which often lead to an underestimation of job creation. Historical data shows that subsequent revisions in subsequent months tend to show a positive upward trend.