July jobs bounce looks fake. Temp World Cup hires and government spending are propping it up
The July jobs rebound is going to be a mirage. Payrolls are expected to bounce to 85,000 after a weak 57,000 in June, with unemployment holding at 4.2%. Bloomberg Economics says the strength is borrowed: World Cup temp hiring is about to reverse, construction is soft, and fall hiring now leans on state and local … Read more