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

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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