7th August 2015
The US non-farm payrolls data is expected to reveal that the number of jobs in the country grew at a healthy pace last month.
If this prediction comes to fruition it will demonstrate that the economy is showing further signs of improving, which could prompt the Federal Reserve to hike interest rates as early as September.
Economists surveyed by Reuters have forecast non-farm payrolls to stay at 223,000, matching job gains made in June and staying above the monthly average of the first six months of 2015.
While the pace of hiring has eased compared to last year, it is still twice the rate needed to equal population growth. The US Labor Department is set to release its eagerly anticipated employment report at 12:30 BST.
Last month, the Fed boosted its assessment of the labour market, describing it as improving "with solid job gains and declining unemployment".
Despite this, there is still doubt surrounding the impending report, as data from vendor ADP revealed a sharp downturn in private sector hiring in July. Conversely, statistics from the Institute of Supply Management revealed service sector employment hit a ten-year high.
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