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US likely added nearly 100,000 jobs in July, but market is still tough for young and unemployed
Economists say low layoffs and a smaller labor force are masking weaker hiring for jobseekers, with July payroll gains expected near 98,000.
- On Friday, the Labor Department released July employment data showing hiring picked up with the unemployment rate holding steady at 4.2%, signaling a resilient labor market.
- Economists describe current conditions as a "no hire, no fire" state, where firms retain staff through uncertainty while a shrinking labor force reduces competition for available positions.
- Job changers pocketed a 7% raise last month, significantly outpacing the 4.4% increase for workers who stayed in their roles, according to data from payroll processor ADP.
- Federal Reserve officials will evaluate the employment figures next week at their policy meeting to determine whether to adjust interest rates currently positioned in a 3.5% to 3.75% range.
- Broader outlooks remain complicated by Persian Gulf tensions driving up energy costs and the rising influence of artificial intelligence, which could either enhance worker productivity or displace jobs.
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What to expect from today’s jobs report
By Alicia Wallace, CNN (CNN) — When the latest official jobs report is released at 8:30 a.m. ET today, economists are expecting it to show that hiring picked up in July and that the unemployment rate held steady at 4.2%. Economists’ estimated monthly employment gains of 97,500 jobs would mark an increase from June’s lower-than-expected The post What to expect from today’s jobs report appeared first on KESQ.
Coverage Details
Total News Sources63
Leaning Left14Leaning Right7Center25Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 31%
C 54%
15%
Factuality
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