What to expect from the monthly U.S. jobs report

  • Economists are expecting that number to show a gain of 189,000, up from 157,000 in July, and the unemployment rate to hit 3.8 percent compared to 3.9 percent in the prior month.
  • The BLS report is set to be released at 8:30am.

All eyes will be on Friday's employment data to gauge whether or not the labor market remains at or near full employment.

Economists are expecting the number to show a gain of 189,000 in August, up from 157,000 in July, and the unemployment rate to hit 3.8 percent compared with 3.9 percent in July.

Escalating trade tensions with China and increased import tariffs on other trading partners have given jitters to many on Wall Street, but not everyone.

Michael Gapen, chief economist at Barclays, said there's a lot of headline noise but scrape it away and he said the economy is doing quite fine.

"We think you're going to see that again on Friday with the labor market report, so yeah, so it's been a very consistent performance of call it the fundamental side. So even take the trade story out of it. What's come out of consumers, what's come out of federal spending, the signal that's coming out of labor markets, the domestic economy is doing fine despite the headline noise," Gapen told CNBC.

The monthly nonfarm payrolls report from the Bureau of Labor Statistics is set to be released Friday at 8:30 a.m. EDT.

Watch the video above and check out what the pros are saying about the jobs market.

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Trading Nation is a multimedia financial news program that shows investors and traders how to use the news of the day to their advantage. This is where experts from across the financial world – including macro strategists, technical analysts, stock-pickers, and traders who specialize in options, currencies, and fixed income – come together to find the best ways to capitalize on recent developments in the market. Trading Nation: Where headlines become opportunities.

Michael Santoli

Michael Santoli joined CNBC in October 2015 as a Senior Markets Commentator, based at the network's Global Headquarters in Englewood Cliffs, N.J.  Santoli brings his extensive markets expertise to CNBC's Business Day programming, with a regular appearance on CNBC's “Closing Bell (M-F, 3PM-5PM ET).   In addition, he contributes to CNBCand CNBC PRO, writing regular articles and creating original digital videos.

Previously, Santoli was a Senior Columnist at Yahoo Finance, where he wrote analysis and commentary on the stock market, corporate news and the economy. He also appeared on Yahoo Finance video programs, where he offered insights on the most important business stories of the day, and was a regular contributor to CNBC and other networks.

Follow Michael Santoli on Twitter @michaelsantoli

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