When the latest official jobs report is released on Friday, economists are expecting it to show that hiring picked up in July and that the unemployment rate held steady at 4.2%.
Economists’ estimated monthly employment gains of 97,500 jobs would mark an increase from June’s lower-than-expected 57,000 jobs added. The bulk of last month’s employment growth is likely to come from one sector: healthcare and social assistance.
Friday’s report will likely underscore that the job market remains stable but in a low-flow state, with non-healthcare hiring a little sluggish and the unemployment rate largely unchanged.
“Low-hire, low-fire” — the well-worn moniker for the current labor market — is certainly catchy but, like most labels, it can’t capture all the inner workings or lived experiences. Americans are navigating a labor market with opportunities for some but not for all, sidelining job seekers and leaving many of the youngest job hunters without the foundational roles and skills needed for their futures.
“It’s like a drip feed,” said 18-year-old Scott Konopka of his recent search to land a summer job when he was back home from college.
