U.S. employment likely increased at a healthy clip in July, with wages picking up, which should help to underpin consumer spending and boost the economy. The Labor Department’s closely-watched employment report on Friday will probably show that nonfarm payrolls increased by 180,000 jobs last month, according to a Reuters survey of economists. While that would be a step down from June’s 287,000 surge, July’s expected gain would still be above the average monthly advance of 171,500 jobs over the first half of the year. June’s robust hiring, which followed a mere 11,000 gain in May, was viewed as unsustainable given that the economic growth in the last three quarters averaged a 1.0 percent annualized rate. Should job growth meet expectations, it would reinforce the Federal Reserve’s confidence in a labor market that officials view as at or near full employment, economists say. Fed Chair Janet Yellen has said the economy needs to create just under 100,000 jobs a month to keep up with population growth.
http://www.reuters.com/article/us-usa-economy-idUSKCN10F1ET
