Jul 31, 2021 - Economy

7. July forecasts call for job, wage growth

Change in total nonfarm employees
Data: FRED. Chart: Sara Wise/Axios

Economists say job momentum continued in July with 620,000 payroll jobs added. If they're right, it helps chip away at the 6.8 million still needed for a full healing.

  • The unemployment rate could slip to 5.8%, matching a pandemic-era low.
  • Wages are expected to grow 0.2% after gaining 0.3% in June.

The big question is whether it's all enough to entice more sidelined workers back into the job market.

  • The so-called labor force participation rate has barely budged in months.
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