Report published August 28, 2026
Wells Fargo Economics Week Ahead: U.S. Labor Market, Eurozone CPI, and Global Central Bank Outlook
Source and citation context
- Issuer
- Wells Fargo
- Report date
- August 28, 2026
- Analysis as of
- August 28, 2026
Authors / editors: Tom Porcelli (Chief Economist), Tim Quinlan (Senior Economist), Sarah House (Senior Economist), Charlie Dougherty (Senior Economist), Michael Pugliese (Senior Economist), Jackie Benson (Economist), Shannon Grein (Economist), Nicole Cervi (Economist), Azhin Abdulkarim (Economic Analyst), Anagha Sridharan (Economic Analyst), Andrew Thompson (Economic Analyst)
Finvaulta summarizes Wells Fargo's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Wells Fargo previews the upcoming week's global economic data, led by an expected rebound in August U.S. nonfarm payrolls to 80K and an unemployment rate of 4.2%. Internationally, accelerating Eurozone CPI supports a September ECB rate hike, the Bank of Canada is expected to hold at 2.25%, and Q2 GDP prints are due for Australia, India, and Brazil.
Key Takeaways
- 1.August U.S. nonfarm payroll growth is expected to rebound to 80K, with the unemployment rate ticking up slightly to 4.2%, signaling a balanced and gradually cooling labor market rather than a sharp downturn.
- 2.Eurozone headline inflation is projected to accelerate to 3.4% YoY in August, bolstering the case for a 25 bps European Central Bank rate hike in September.
- 3.The Bank of Canada is expected to keep its policy rate steady at 2.25% as solid Q2 growth and contained core inflation balance downside risks from U.S. trade tensions.
Table of Contents
- U.S. Week Ahead
- Employment • Friday
- Advanced Economies
- Eurozone CPI • Tuesday
- Bank of Canada Monetary Policy Meeting • Wednesday
- Australia GDP • Wednesday
- Canada Labor Force Survey • Friday
- Emerging Markets
- India GDP • Tuesday
- Brazil GDP • Tuesday
- Economics Group
- Required Disclosures
Report data
United States and International Indicator Releases — as of August 28, 2026.
| Metric | Estimate | Context |
|---|---|---|
| U.S. Nonfarm Payrolls | 80 K | Wells Fargo August forecast rebounding from -23K prior |
| U.S. Unemployment Rate | 4.2% | Wells Fargo forecast up from 4.1% in July |
| Eurozone CPI YoY | 3.4% | Wells Fargo forecast up from 2.9% prior |
| Bank of Canada Policy Rate | 2.25% | Wells Fargo forecast on hold at 2.25% |
| Australia GDP YoY | 1.9% | Wells Fargo forecast slowing from 2.5% prior |
Reports in this series
Economics Week Ahead is shown in chronological order through this edition, published on August 28, 2026.
Part of the Economics Week Ahead series — view all 3 editions
- Jun 6Economics Week Ahead
- Jun 18Economics Week Ahead
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Authors / Editors
Reported Data Context
- U.S. Nonfarm Payrolls: 80 K (2026-08) · Source: Bloomberg Finance L.P. and Wells Fargo Economics
- U.S. Unemployment Rate: 4.2 % (2026-08) · Source: Bloomberg Finance L.P. and Wells Fargo Economics
- Eurozone CPI YoY: 3.4 % (2026-08) · Source: Bloomberg Finance L.P. and Wells Fargo Economics
- Bank of Canada Policy Rate: 2.25 % (2026-09-02) · Source: Bloomberg Finance L.P. and Wells Fargo Economics
- Australia GDP YoY: 1.9 % (2026-Q2) · Source: Bloomberg Finance L.P. and Wells Fargo Economics