Employment report expected to show a rebound in hiring, but with stagnant wages
· Telemundo McAllen (KTLM)
The U.S. labor market is expected to show a modest rebound in hiring, with the non-farm payroll report due from the Bureau of Labor Statistics at 8:30 a.m. ET. Economists predict 83,000 new jobs for July, up from 57,000 in June, while the unemployment rate is expected to remain stable at 4.2%. Despite rising energy prices and persistent inflation above the Federal Reserve's 2% target, average hourly earnings are projected to increase by 0.3%, leading to a 3.5% rise year-over-year. Sectors like education and health services are anticipated to lead job gains, while leisure and hospitality may see a moderate uptick after a decline in June.
AI summary · Source: Telemundo McAllen (KTLM) →
