The August jobs report, set for release at 8:30 a.m. ET Friday, is expected to show another month of tepid job gains but an unemployment rate that holds steady at 4.2%. Economists have forecast that the economy added 80,000 jobs last month, which would be a slight increase from the slower-than-expected 73,000 net gain in July.

The pace of U.S. job growth slowed more than expected in August, and the unemployment rate increased, pointing to signs of slowing labor market conditions and boosting expectations the Federal Reserve will need to be more aggressive in cutting interest rates.