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Economists see strong payrolls gain in June after two months of misses

It’s jobs day, difficult oil talks, and J&J effective against delta. 

The U.S. economy is expected to have added 720,000 positions in June, according to the median estimate in a Blomberg survey of economists. The unemployment rate is seen ticking lower to 5.6% while wages may have jumped 3.6%. The previous two months have seen the increase in payrolls fall well short of expectations, so this morning’s data at 8:30 a.m. Eastern Time will be a test of economists’ optimism. One of the key pieces of data to watch for signs of a return to normal will be the participation rate which has remained well below pre-pandemic levels.