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America’s Jobs Engine Keeps Defying Forecasts for 2017 Slowdown

  • Payrolls have topped estimates in five of seven months
  • Growth in low-paying industries may help explain weak wages
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Stanley Sees More of the Same for Aug. Jobs Report

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In an economy growing at a moderate pace at best, the U.S. job market keeps on shining.

Payroll gains topped forecasts in five of the past seven months, putting the 2017 average increase of 184,000 almost on par with last year’s 187,000 and above levels typical for the eight-year expansion. Analysts expect barely any falloff from that pace in August figures due Friday, amounting to job growth about double what’s needed to keep the unemployment rate steady in the longer run.