US Job Growth to Accelerate Amid Inflation Worries

US job growth is expected to accelerate in July, according to economists surveyed by Bloomberg. They predict an increase of 85,000 payrolls after a lower-than-expected gain of 57,000 jobs in June.

The unemployment rate is seen remaining steady at 4.2%, based on a survey of households rather than establishments. This uptick in job growth supports consumer spending and follows a surge in underlying demand in the US economy during the second quarter.

However, some Federal Reserve officials are pushing to increase interest rates to combat inflation. Three policymakers voted for a rate hike last week, despite the central bank keeping rates unchanged.