Is hiring picking up in the US? Thursday’s report will help illustrate trends
Summary
The U.S. Labor Department is set to release a report on June job growth that may show about 100,000 new jobs added. This would continue a trend of steady hiring after several months of slow or negative job growth, while the unemployment rate is expected to remain low around 4.3%.Key Facts
- Economists expect about 100,000 new jobs were added in June.
- This could be the fourth month in a row with solid job growth.
- From March to May, employers averaged 188,000 new jobs per month.
- The unemployment rate is forecast to stay near 4.3%.
- Job growth earlier this year was weak, with some months showing job losses.
- Inflation is high at 4.2%, which affects consumer incomes and spending.
- Lower gas prices from a peace deal with Iran may help reduce inflation soon.
- Some big job gains in May came from restaurants, hotels, and local governments, partly due to World Cup preparations.
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