US Job Growth Likely Tepid for Fourth Month, Supporting Rate Cut

Economists expect Friday’s employment report to extend the weakest stretch of US job growth since the pandemic, likely locking in a Federal Reserve interest-rate cut.

Nonfarm payrolls probably grew 75,000 in August, according to the median estimate in a Bloomberg survey of economists, which would mark a fourth straight month of job growth below 100,000. The unemployment rate is seen rising to 4.3% — the highest level since 2021.

Hiring has materially cooled in recent months as companies navigate concerns about demand, higher costs and lingering economic uncertainty from President Donald Trump’s erratic trade policy. That’s put increased ...