Signals from the Federal Reserve
The Federal Reserve has already raised interest rates twice this year.
Strong American jobs gains are observed in July
In July, American employers managed to keep a sturdy tempo of hiring, while lifting wages for employees. Apparently, these are signs of labor market tightness, which could potentially clear the way for the Fed to announce next month a plan to get down to shrinking its huge bond portfolio.
As a Reuters survey of economists states, on Friday the Labor Department's closely watched employment report will most likely show that non-farm payrolls leapt by 183,000 jobs the previous month after soaring 222,000 in June.
In June, average hourly earnings are expected to have ascended 0.3% after earning 0.2% in June. It would be the greatest soar for five months. As for the year-on-year leap in wages, it will probably slow to 2.4% because the previous year's steep ascend is excluded from the calculation.
Average hourly earnings tacked on 2.5% for the twelve months to June and have been going down since ascending 2.8% in February. Experts find lack of strong wage surge surprising especially considering that the US economy is close to full employment.
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