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Estimates of U.S. job growth were revised upward for the next four quarters, according to the second-quarter edition of the Survey of Professional Forecasters released today by the Philadelphia Federal Reserve. For the upcoming third quarter, forecasters estimated the U.S. will add 170,000 new jobs on average per month. That’s up from an earlier estimate of 145,200.
Annual estimates of job growth were also revised upward.
See the chart below for new estimates of read gross domestic product growth, unemployment and job growth from the Survey of Professional Forecasters.
Click on chart to enlarge.