on what the government likes to call the “employment situation.” The rest of us tend to call it the “jobs report.”or the “payroll survey”—tells us how the size of payrolls have changed since the previous month. This is the source of headlines telling us that the U.S. economy added so many jobs—or, in bad times, lost so many jobs—in a month. We also get details about which parts of the economy—such as manufacturing, leisure and hospitality, health and social services—added jobs.
. Job vacancies fell to 7.7 million at the end of July, which is close to where they were before the pandemic and far below their peak of over 12 million in 2022. The unemployment rate rose to 4.3 percent in July, up from 3.4 percent in April of 2023. Wall Street expects that the establishment survey will show between 100,000 and 195,000 workers added to payrolls in August, a wide range of forecasts. The median forecast is for 160,000. The unemployment rate is expected to inch down to 4.2 percent, although forecasts range from a drop to 4.1 percent to a rise to 4.4 percent.
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