Although July's employment report looked better than recent months, the year-over-year growth trend is still range-bound. Morningstar's Bob Johnson and Vishnu Lekraj outline what might help in the last five months of the year.
Job growth hasn't even been close to the rate needed to hit the Fed's target for unemployment below 8%, says Morningstar's Vishnu Lekraj.
Quirks in auto and education employment, plus recent strength in the consumer sector could impact Friday's jobs report, says Morningstar's Bob Johnson.
A better-than-expected April report and two consecutive months of mediocre ADP payroll data could make for an underwhelming government employment report on Friday.
Some quirks boosted the September employment report, but several factors--including higher wages and a construction upturn--suggest tailwinds for further improvement ahead.
Recent revisions helped 2012's employment growth look better than initial forecasts, but we don't expect a sizable surge (or decline) for 2013.
Last month's employment numbers showed a continued, steady improvement, but they weren't so strong that the Fed will feel forced to taper its easing programs, says Morningstar's Bob Johnson.
Although June payroll gains were better than recent averages and hourly earnings rose, the report was not entirely upbeat, says Morningstar's Bob Johnson.
Even amid market mood swings courtesy of the Fed, steadily rising employment offset weak manufacturing data.
Increased Fed economic forecasts of just last week already look embarrassingly high.
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