Another month of solid hiring could ease fears about economy

Economists have forecast that employers added 175,000 jobs in July and that the unemployment rate dipped to 4.8 percent from 4.9 percent in June.

Despite the downshift, an increase of 175,000 would likely be enough to reassure investors — and perhaps Federal Reserve policymakers — that the economy will keep growing at its slow but steady pace.

[...] the jobs report isn't likely to alter public perceptions of the economy, which have been largely negative during this election season despite low unemployment.

A top adviser to Donald Trump said last week that the annual economic growth rate of just 1.2 percent in the April-June quarter was "catastrophic."

Services companies, which range from retailers to banks to shipping firms, expanded at a healthy pace in July, according to a survey by the Institute for Supply Management, a trade group.