President Donald Trump on Thursday appeared to tout a report showing an increase in private sector hiring in August as analysts awaited a new look at the nation's employment picture Friday.'Really Good Jobs Numbers!' Trump Tweeted, a day before the release of the monthly unemployment report that will provide new information about the state of the record-long recovery. Analysts are anticipating new insights about the economy that has seen a slowdown amid manufacturing amid what Trump on Wednesday called a 'trade war' with China. President Donald Trump on Thursday touted a report showing an increase in private sector hiring in AugustMarket turmoil and a slowdown in Europe and China has prompted fears of a recession. The Federal Reserve is expected to cut a key rate, mostly likely by an additional quarter percentage point when its Open Markets Committee meets in two weeks, the Wall Street Journal reported. U.S. services sector activity accelerated in August and private employers boosted hiring, suggesting the economy continued to grow at a moderate pace despite trade tensions which have stoked financial market fears of a recession.The upbeat reports on Thursday came on the heels of data this week showing the manufacturing sector contracted for the first time in August as the trade war between the United States and China intensified. The president appeared to be touting a new report on an increase in service sector employees on the payroll ADP National Employment Report on Thursday showed private payrolls surging by 195,000 jobs this month after rising by 142,000 in July Trump's tweet comes a day before monthly unemployment figures are releasedBut given the erosion of business confidence as a result of the year-long trade impasse and the threat it poses to the longest economic expansion in history, the Federal Reserve is still expected to cut interest rates again this month.The U.S. central bank lowered borrowing costs in July, citing growing risks to the economy, now in its 11th year of expansion, from the trade fight and slowing global growth. China and the United States on Thursday agreed to hold high-level trade talks in early October in Washington, according to the Chinese commerce ministry. RELATED ARTICLES Previous 1 Next Joe Biden mocks his gaffes to Stephen Colbert, telling him... Former Donald Trump national security aide involved in White... Ivanka Trump and Jared Kushner are whispering to her father... Donald Trump says NBC should fire Debra Messing for calling... Share this article Share 'Extreme uncertainty over trade issues has soured the sentiment of some in the business community, but companies continue to hold on tight to the workers they have and are also onboarding new workers at a fast clip,' said Chris Rupkey, chief economist at MUFG in New York. 'This isn't what a recession is supposed to look like.'The Institute for Supply Management said its non-manufacturing activity index increased to a reading of 56.4
