Economists forecast 80,000 jobs added in July, with unemployment steady at 4.2%, following mixed labor market signals.
The Labor Department’s July jobs report, due Friday, is expected to show nonfarm payrolls increased by 80,000, a pickup from June’s 57,000 gain. The unemployment rate is projected to hold at 4.2%, matching the prior month’s reading.
Recent private data painted a mixed picture: ADP reported softer-than-expected hiring, while Challenger, Gray & Christmas noted a decline in layoff plans. Bank of America Institute data suggested payroll growth accelerated in July, driven by lower-income households, whose after-tax wage growth outpaced higher earners for the first time since December.
Markets will scrutinize the report for signs of labor market resilience amid cooling inflation and slowing economic momentum.