July Jobs Report - More Positive Job Growth (Video)

by: Principal Financial Group

By Bob Baur, Ph.D., Chief Global Economist, Principal Global Investors

The July jobs report showed another month of positive job growth, adding 215,000 jobs. The unemployment rate remained unchanged at 5.3%, as did the labor force participation rate at 62.6%. Wage growth remained sluggish in July, but we still think the first interest rate increase will happen in September. Here are my thoughts on the report and our outlook for the rest of the year.