Report | United States Employment Update - August 2017
The U.S. labor market added 209,000 net new jobs in in July, marking the second consecutive month of gains of more than 200,000 after a series of wobbly months. Continued growth is placing further downward pressure on unemployment, which is back at its cyclical low of 4.3 percent; total unemployment remained stable at 8.6 percent as well. Despite a very tight labor market, wage growth has yet to see meaningful increase, staying relatively stable at 2.5 percent in annual terms. However, inflation below the 2.0-percent threshold will keep consumer spending afloat, driving GDP growth in the absence of public-sector investment and consumption.
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