U.S. Jobs Report Will Show Firms Are Still Hiring

The US jobs report on Friday is expected to show that employers are still hiring at a healthy but slower rate, consumers are spending more judiciously, and the recession that economists had projected hasn’t materialized, Janet H. Cho reported for Barron’s Daily.

Photo Insert: Economists are expecting to see a gain of 200,000 nonfarm payrolls in July, following the 209,000 increase in June.

Economists are expecting to see a gain of 200,000 nonfarm payrolls in July, following the 209,000 increase in June.

The unemployment rate is expected to remain at a historically low 3.6%. In contrast to what happened in 2007-2008 and 2020, companies are cross-training workers and using technology to trim expenses.

Freight railroads retained workers despite declines in shipping volumes, a reversal of the deep cuts they made during the COVID-19 pandemic, The Wall Street Journal reported.

While economic output has accelerated in recent months, inflation cooled to 3% in June, and wage growth has slowed. Fed Chairman Jerome Powell called it the beginnings of disinflation without any real costs in the labor market.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic