US likely enjoyed hiring spree in July as economy rebounds

The U.S. economy likely enjoyed a burst of job growth last month as it bounced back with surprising vigor from last year’s coronavirus shutdown

WASHINGTON -- Despite an uptick in COVID-19 cases and a shortage of available workers, the U.S. economy likely enjoyed a burst of job growth last month as it bounced back with surprising vigor from last year’s coronavirus shutdown. The Labor Department’s July jobs report Friday is expected to show that the United States added more than 860,000 jobs last month, topping June's 850,000, according to a survey of economists by the data firm FactSet. Economist Lydia Boussour at Oxford Economics is expecting even more — 1.02 million — partly because seasonal factors will swell the number of those hired to teach at public schools and work in restaurants and hotels. Economists also expect the unemployment rate dropped to 5.7% from 5.9% in June, FactSet says.