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WASHINGTON (AP) — A survey of economists ahead of the official Labor Department employment report due out today is predicting another good month, following the best three-month burst of hiring in 17 years.
Economists in the FactSet survey have forecast a job gain of 240,000 and a drop in unemployment to a near-normal 5.6 percent from 5.7 percent. That would be evidence of a job market that continues to outshine others around the world.
A bright outlook among employers has translated into a robust average of 267,000 jobs added monthly over the past 12 months. That means there are 3.2 million more Americans earning paychecks now than at the start of 2014. That additional income, along with sharply lower gas prices, has left more Americans able to spend.
The steady hiring may also finally be forcing wages up.
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