Economy recovering as election nears

Tuesday, September 1, 2020
 | 
Chris Woodward (OneNewsNow.com)

"We are hiring" signA seasoned entrepreneur and businessman says we can expect to hear a lot more in the coming days about jobs and the unemployment rate.

The ADP National Employment Report is scheduled to be released tomorrow morning. Ahead of of the MarketWatch median forecast for the number, Dan Celia of the "Financial Issues" radio program believes it will be higher than the 167,000 that ADP reported in July.

"Friday, we get the very all-important nonfarm payroll numbers, so we'll see how many people went back to work in the nonfarm payroll private sector," says Celia. "They are expecting 1.3 million, but 1.44 million is where I am. Hopefully I am wrong and it's higher than that."

Numbers from ADP and the federal government rarely match. As for the nation's unemployment rate, Celia is not ruling out something below 10 percent.

Celia

"We're sitting at 10.2 percent," Celia explains. "Based on all that's happened, that's not even that bad, but we are expected to go into single digits -- something like a 9.4, or 9.8."

Whatever it might be, Celia thinks it "would be wonderful if we got down below 10 percent."

With only a few jobs reports to go before the November election, Democratic Party presidential nominee Joe Biden believes he is the best choice to lead America's economic recovery. President Trump begs to differ.

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