Labor Market Expected To Hold Steady With Payrolls Adding 80,000 Jobs in July

If the projections are met, hiring would improve from June, when employers added just 57,000 jobs, but would still point to a labor market that continues to cool from the rapid pace seen in previous years. (Credit: Justin Sullivan/Getty Images)

The U.S. labor market will face another crucial test Friday when the Labor Department releases its July employment report, with economists expecting modest hiring gains and a steady unemployment rate despite mixed economic signals throughout the past week.

According to a Bloomberg survey seen by Yahoo Finance, economists expect nonfarm payrolls to increase by 80,000 jobs in July while the unemployment rate is forecast to remain unchanged at 4.2%.