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US jobs growth in August is expected to rebound after recent weakness. It’s expected that 192,000 jobs have been created during the month, up from 157,000 in July. This returns job growth closer to the 200,000 mark that has been viewed as the healthy level for more than three years.
On the wages front, average hourly earnings are expected to rise by 0.3%, in line with the previous month’s figure, while the unemployment rate is expected to fall to 3.8% from 3.9%.
These are not exactly inspiring numbers, but the US economy is solidly into its expansion phase. What is worth noting is that the last 18 months of the Obama administration saw an average of 190,000 jobs created each month. For the first 18 months of the current administration, the figure has been 190,000. For all US President Donald Trump’s boasts about bringing jobs back to America, he has actually achieved very little.