US job growth expected to rebound in August, jobless rate at 4.1%
Nonfarm payrolls likely increased by 56,000 jobs last month after declining 23,000 in July, according to a Reuters survey of economists.
The U.S. job market is expected to show a rebound in August, according to forecasts, with the unemployment rate anticipated to remain steady at 4.1%. This growth is anticipated to be tempered by job losses stemming from the termination of Temporary Protected Status (TPS) for Haitian immigrants. The Labor Department's upcoming employment report on Friday is projected to reflect a "slow hire, slow fire" labor market, with economists cautioning that the recovery might be limited by these TPS-related job losses.
The job market momentum has slowed since surging in the spring, attributed to factors such as oil price shocks and supply chain disruptions arising from the U.S.-Iran conflict. The Labor Department projects nonfarm payrolls to increase by 56,000 jobs in August, following a decline of 23,000 in July. Economists estimate that the TPS expiration could shave off approximately 15,000 jobs, with the potential for a larger impact.
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- US job growth expected to rebound in August, jobless rate at 4.1% freemalaysiatoday.com
