Solid U.S. employment growth eyed in August
U.S. job growth likely accelerated a bit in August and the unemployment rate probably fell to 6.1 percent, offering fresh evidence of sustained momentum in the economy.
The government reported last month that the economy added 209,000 jobs in July.
“It would be further confirmation that the economy is strengthening and is poised to break out later this year or early next,” said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pennsylvania.
Third-quarter growth estimates range as high as a 3.5 percent annual rate, well above the economy’s long-term growth potential, which economists peg as between 2.0 percent and 2.5 percent.
Fed Chairman Janet Yellen is concerned about sluggish wage growth, the still-elevated numbers of Americans working part-time even though they want full-time employment, and Americans still suffering from a long spell of joblessness.
Source: Reuters
