Friday’s US Jobs Report for July Is Expected to Show Strong Gains
Once again the U.S job rates are expected to show strong results. The government is due to release the report on Friday and the job growth is likely to follow the steady march upward which has been witnessed with the economic expansion in the past months.
It is a much awaited report as it will also provide an input whether the Federal Reserve will consider the U.S. economy steady enough for a raise in the near zero interest rates sometime in September.
According to a survey, the average economists forecast signals that the U.S employers have added close to 225,000 jobs in July. Along with that it is also estimated that the rate of unemployment stay put at a low of seven years at
5.3 percent. The rate in job growth is likely to equal the 223,000 gain witnessed in June and the strong monthly average of 244,583 compared to the last year.
Although the Fed are thought to have almost made a decision that the economy is steady enough for higher borrowing rates but Americans are still worried about an upturn that is defined in terms of humble economic growth and small rise in pay levels.
However, many reports confirm that the strong hiring growth has helped in revival of auto sales and housing. But it is also a truth that the meager pay raises resulted in limited consumer spending which may take a toll on the nation's economic activity.
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