Comment on Solid hiring expected for June as US job market nears normal

Solid hiring expected for June as US job market nears normal

WASHINGTON (AP) — U.S. employers likely hired at another strong pace in June, a sign that the job market is nearing full health and giving the Federal Reserve reason to raise interest rates as early as September. The job gains are also showing tentative signs of finally forcing up wages, which have remained stagnant for many Americans during the 6-year-old economic recovery. A Fed rate hike would lead to higher rates for mortgages, auto loans and other borrowing. Patrick O'Keefe, an economist at the accounting and consulting firm CohnReznick, says the job gains show that employers are increasingly confident that their customer demand will keep growing. Bradley Holcomb, chairman of the Institute for Supply Management's manufacturing business survey committee, said that trend shows that manufacturers foresee orders rising in coming months.

 

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