Strong US growth likely drove healthy job gain in July
WASHINGTON (AP) — With a robust economy at their backs, optimistic employers likely added jobs at a solid pace in July.
Economists forecast that employers added 191,000 jobs last month, down from 213,000 in June but easily enough to lower the unemployment rate over time. The jobless rate is projected to decline to 3.9 percent, near an 18-year low, from 4 percent.
The Labor Department’s monthly jobs report will be released at 8:30 a.m. Eastern Friday.
Consumers are spending freely and businesses are stepping up their investment in buildings and equipment, boosting growth even as the economic expansion enters its tenth year. That’s raising demand for workers in industries ranging from manufacturing to construction to health care.