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Economy

August Jobs Report Will Beat Consensus Estimates

Source: https://blog.linkup.com/data-seekers/2020/09/03/august-jobs-report-will-beat-consensus-estimates/

Labor demand continued to rise in August, with steady gains in total, new and removed job openings across the U.S. that continued the steady gains seen in June and July.

The LinkUp 10,000, a metric that measures the job openings for the 10,000 global employers with the most job openings in the U.S. for the month, rose 3.6% in August.

Looking at our paired-month data which measures the change in new and total job openings for a set of companies that were hiring in both July and August, new and total jobs rose 5% and 8% respectively.

In July, hiring velocity also picked up as the average number of days that job openings stayed open dropped from 44 to 40 days.

Based on our paired-month data, we are forecasting a net gain of 1,900,000 jobs in August, quite a bit above the consensus estimate of 1.4 million jobs.

As always, stay safe and healthy and wear a mask.

To learn more about the data behind this article and what LinkUp has to offer, visit https://www.linkup.com/data/.

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Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

DATA PROVIDER SPOTLIGHT

Advan

Advan provides hedge funds and institutional investors with unmatched insights into both foot and vehicle traffic to enable better investment decisions. Using precise, manual geofencing, it has the most extensive and accurate location data, available in seconds through an intuitive, self-service dashboard. Its institutional-grade analytics allow fast and actionable insights into customer behavior and corporate activity.

Advan is headquartered in New York City. For more information please visit www.advan.us