(Bloomberg) — Hiring in the US probably increased at a healthy yet more moderate clip this month, representing a vote of confidence about the demand outlook after a solid first half of the year.
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The closely watched jobs report on Friday is projected to show employers boosted payrolls by 200,000 in July, while unemployment held at a historically low 3.6% and hourly pay cooled. Earlier in the week, separate data are seen showing fewer June job openings that indicate better balance in the labor market.
The employment report comes on the heels of a surprising acceleration in second-quarter economic growth. While recession risks remain, so far the US economy has proved resilient in stark contrast to the weakness gripping greater Europe and the sluggishness in China.
To that point: Federal Reserve Chair Jerome Powell, after the US central bank boosted rates by a quarter point this week, said Fed economists are no…
