US is thought to have kept up a solid hiring pace in August
WASHINGTON (AP) — U.S. employers are expected to have hired at another healthy pace in August, a trend that could power the economy through a rough patch stemming from a global slowdown and the Trump administration’s trade war with China.
Economists have forecast that businesses and governments added 160,000 jobs last month, nearly the same as July’s 164,000 gain. That pace is more than enough to keep up with population growth and over time could reduce the unemployment rate, now near a 50-year low of 3.7%, even further.
The rate of job creation is significant because at a time when the economy is slowing, additional steady hiring — and higher pay — would fuel consumer spending, the primary driver of growth. Unlike consumers, many businesses have slowed their spending and delayed expansion.