Economists are expecting the latest jobs report, to be released at 8:30 a.m. ET today, to show that hiring picked up in July and that the unemployment rate held steady at 4.2%.

Job Market Remains Stable

The bulk of last month’s employment growth is likely to come from one sector: healthcare and social assistance. Friday’s report will likely underscore that the job market remains stable but in a low-flow state, with non-healthcare hiring a little sluggish and the unemployment rate largely unchanged.

Americans are navigating a labor market with opportunities for some but not for all, sidelining job seekers and leaving many of the youngest job hunters without the foundational roles and skills needed for their futures. Teen employment accounts for a roughly 3% share of the labor market, so changes there do not move the needle much for the overall headline job numbers.

Teen Employment

Teenagers like 18-year-old Scott Konopka are struggling to find summer jobs. Konopka sent out about 100 applications to a slew of employers posting summer opportunities, including retailers, restaurants, landscapers, and airports. He received three rejection letters and the rest was crickets. He eventually called up the Wendy’s restaurant where he worked after his senior year to see if they had any shifts to spare.

On the other hand, 15-year-old Ivanka Lopez was able to land a summer job at an ice cream and chocolate shop. She expressed pride in reaching a new training level where she was responsible for dipping all manner of sweet treats in chocolate and caramel.

Labor supply remains restrained, with participation rates near post-pandemic lows. Employers are reacting to a host of different drivers that’s shifting how they hire throughout the year.

Original reporting: KRDO (Colorado Springs metro) — read the source article.