US job market keeps defying forecasts for 2017 slowdown

WASHINGTON: In an economy growing at a moderate pace at best, the US job market keeps on shining.

Payroll gains topped forecasts in five of the past seven months, putting the 2017 average increase of 184,000 almost on par with last year’s 187,000 and above levels typical for the eight-year expansion. Analysts expect barely any falloff from that pace in August figures due today, amounting to job growth about double what’s needed to keep the unemployment rate steady in the longer run.