Raging inflation has so scrambled the economy that it’s come to this: If Friday’s jobs report for August were to show a significant hiring slowdown, the Federal Reserve — and even the White House — would likely welcome it.
The government is expected to report that employers added 300,000 jobs last month, according to a survey of economists by the data provider FactSet. That would be down from a blockbuster gain of 528,000 in July and an average of about 440,000 over the past three months. The unemployment rate is expected to remain at 3.5%, FactSet says, matching a half-century low.
