Goldman's chief economist isn't cheering after jobs report: 'This is a somewhat dated number'

Angela Weiss | AFP | Getty Images

(This story is for CNBC Pro subscribers only.)

The Labor Department's July jobs report, which came in better-than-expected, is positive, but jobs growth could falter in the face of rising cases and new restrictions, according to Goldman Sachs' chief economist. 

"I think today's number is encouraging overall, relative to the expectations, but of course we also have to see," Goldman chief economist Jan Hatzius told CNBC's "Squawk on the Street" on Friday. "This is a somewhat dated number and we'll see in the August report how well job growth is holding up in the face of the renewed restrictions on activity."

More In CNBC TV Picks

CNBC ProCramer says he'd advise buying a Netflix post-earnings dip if shares fall to this price
CNBC ProBill Miller likes these stocks, including one that he thinks will make ‘multiple times your money’
CNBC ProValue investor Bill Miller is finding some opportunities in the SPAC sell-off