Share “Applications for US jobless aid at...”

Applications for US jobless aid at still-low 302K

Published on NewsOK Modified: September 4, 2014 at 8:59 am •  Published: September 4, 2014
Advertisement

If hiring meets or exceeds those expectations, it would be the seventh straight month of job gains exceeding 200,000. The last time the U.S. economy posted a streak that long was in 2007.

Employers have added an average of 230,000 jobs a month so far this year, up from an average of 195,000 in 2013. In June, employers advertised the most monthly job openings in more than 13 years, the government said last month.

Rising optimism about jobs and hiring helped boost consumer confidence to nearly a seven-year high in August, according to the Conference Board, a research group.

The percentage of respondents who said jobs were "plentiful" rose to 18.2 percent from 15.6 percent in July. That's the highest level since 2008. Consumer optimism generally tracks the unemployment rate over time.

Still, hiring has yet to boost pay by much. Wage growth has barely outpaced inflation since the recession ended more than five years ago. But as more people land jobs, there should also be more paychecks, which could drive consumer spending and growth.