But what about wages?
The job market’s winning streak continued in July as the economy added 215,000 positions, according to government data released Friday, providing more evidence of an economy that is slowly but steadily returning to normal.
The Labor Department reported that hiring was strongest in the retail and health care sectors, while the mining industry continued to shed jobs. The unemployment rate remained unchanged from the previous month at 5.3 percent.
The solid yet unremarkable report indicated that the recovery is chugging along. Hiring came in just shy of analysts’ expectations, and there was little in the details of the data to be concerned about: Wages nudged up in July, and workers logged more hours. The labor force expanded slightly, and teenage unemployment dropped.
“I think it’s a sign of progress that we’re seeing decent job gains every month,” said Scott Anderson, chief economist at Bank of the West. “Boring is good.”Share on Facebook