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Economists React to July’s Jobs Report: ‘Not Weak, But…’
U.S. nonfarm employers added 209,000 jobs in July, slightly below forecasts and slower than earlier gains, while the unemployment rate ticked up to 6.2% from June. But employers have now added 200,000 or more jobs in six consecutive months for the first time since 1997. Economists were mixed in how they view the report: some have called it “encouraging,” while others consider it “disappointing.” It is a sign of how far the U.S. economy has come in recent months that the 209,000 increase in non-farm payroll employment in July will probably be viewed as a disappointment in the markets. The consensus forecast ... (full story)