Bruce Kasman：private sector hiring has been sustained at a 78,00

“Economic reports for August are generally consistent with our forecast of a sub-par US gross domestic product gain this quarter but have also reduced concern that weakness is intensifying,” said Bruce Kasman of JPMorgan Chase.

But he added: “Importantly, private sector hiring has been sustained at a 78,000 monthly pace in the last three months and the upward trajectory in hours and labour income remains intact through the soft patch. Sustained income growth is a key to sustaining consumer spending gains.”