The small increase in July's employment is not entirely surprising, considering the strong gains over the previous three months. More importantly, the details of the jobs report were fairly encouraging for household income growth. Unfortunately, rising food prices and high gasoline prices will continue to dampen household spending.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services