The Labor Department's nonfarm payrolls report, the most closely watched data point of any month, will be released at 8:30 a.m. ET.
The current labour force participation rate in the U.S. is 62.8 per cent, well down on its pre-2008 level, when it was as high as 66 per cent.
Experts believe the latest figures indicate the economy could grow by up to 2.5% over the second half of the year, an increase from the sluggish average of 2% in the eight years since the recession ended.
The healthcare industry saw the most significant increase of new jobs at 37,000. The lack of inflation in the economy - wages and prices - have been a worry to some Federal Reserve officials, who have signaled they are willing to look past it for now.
According to the bureau, involuntary part-time workers are "persons who indicated that they would like to work full time but were working part time (1 to 34 hours) because of an economic reason, such as their hours were cut back or they were unable to find full-time jobs". This is well above where it was last month due both to the strength of this month's relatively good numbers and the upward revisions noted above. "It creates a bit of a goldilocks backdrop for stocks". This report also identifies quite a spotty record for predicting nonfarm payrolls, but the modest June growth and steady rise in first-time applications might result in some great concern that the USA labor market is losing a bit of steam. "Against the backdrop of very low inflation, wage growth has been positive, but still appears to have room for further improvement". The jobs report does not include farm workers, private household employees, or nonprofits.
Hiring surged in June in a surprising show of USA economic vitality eight years into the recovery from the Great Recession.
With the modest increase, the unemployment rate crept up off the sixteen-year low set in the previous month. The Fed is also seen putting a plan in motion to reduce its bond portfolio, which swelled to more than $4 trillion after three rounds of quantitative easing. This will permit the Fed to raise rates and begin tapering its portfolio.
This has been a tough year for the retail industry. Once again the service sector was the largest new employer. Samana said investors still have time to align their portfolios and get properly invested.
CBO projects that the unemployment rate will remain around 4.3 percent by the end of 2017 and then drop further to 4.2 percent in early 2018.