Employment Increase In US

04 Sep 2013

August may see an increased rate of hiring from US employers, which has the potential to make way for the Federal Reserve to start cutting back its gargantuan bond purchases program.

According to a Reuters survey of economists, Non-farm payrolls are expected to have increased from 162,000 in July to 180,000 jobs. The unemployment rate is expected to hold steady at the lowest in the past 4-1/2-years at 7.4% as more people search for work which is a sign of confidence in the labor market.

The Labor Department’s closely watched employment report will be released on Friday at 8:30 a.m. EDT (12:30 GMT).

The number of people filing new claims for state unemployment benefits trended lower in August hinting at an improvement in job gains last month. The 4-week average of claims neared a 6-year low during the payrolls survey week.

A separate survey from the Conference Board shows consumers' upbeat outlook for the labor market in August, with a decline in individuals expecting few employment opportunities and an increase in the share of individuals anticipating more jobs.

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