Steady July Hiring Raises Prospects of Fed Rate Increase

8/13/15

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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