Steady July Hiring Raises Prospects of Fed Rate Increase


Employers continued their steady hiring in July, which marked the 58th consecutive month of job gains, according to the Research Brief blog from Marcus & Millichap, which reports that the U.S. has added 12.4 million jobs since the recovery began and total employment now stands 3.7 million positions above the pre-recession employment peak.

“Despite month-to-month volatility, the trends have been remarkably sturdy, generating average monthly additions exceeding 200,000 jobs,” the company reports. “This consistent performance offers the Fed a solid foundation to begin modestly raising rates later this year, despite some soft readings in measures such as wage growth.”

SEE: Steady July Hiring Meets Expectations; Raises Prospects of Fed Rate Increase Despite Modest Wage Growth

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