US Payrolls Expected To Normalize In July, After Fluctuating In Previous Months
Economists expect July's jobs report to keep pace with expectations—normalizing after the highs and lows of May and June's payroll growth.
The labor market has been in flux these past few months, missing projections by a wide margin in May when only 11,000 jobs were added, then rebounding in June with 287,000 jobs added, beating analyst expectations of only 177,000 adds. The market has cooled this year compared to 2015 as the US economy has lost steam, Bloomberg reports, and the slow economic growth will present challenges for the Federal Reserve as it determines whether the economy can handle an interest rate increase.
"I think the conclusion that people will draw is that whatever July prints is more or less the new trend," Amherst Pierpoint Securities economist Stephen Stanley says. [Bloomberg]
