WASHINGTON (AP) — Analysts are forecasting modest job growth in August, and the tepid report, due out later this morning, would provide little momentum to President Barack Obama's campaign -- a day after his speech to the Democratic convention.
U.S. employers likely added jobs last month, though probably not enough to push down the unemployment rate.
Economists surveyed by FactSet believe 135,000 jobs were created in August and the unemployment rate remained 8.3 percent. That's below the 163,000 jobs gained in July, but an improvement from meager hiring in the spring.
In last night's convention speech, Obama acknowledged incomplete progress in repairing the still-struggling economy and asked voters to remain patient.
But economists were encouraged yesterday after several reports suggested hiring could pick up in the coming months.
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