The labor market seems to have defied gravity in the first half of 2018. Monthly job growth averaged a robust 215,000, up from 182,000 last year, despite a low 4 percent unemployment rate that’s spelling more worker shortages. The July jobs report, out this week, could shed light on whether payroll gains will maintain that surprising pace or slow in the second half of this year. Also coming this week: reports on consumer confidence and spending, and manufacturing and service sector activity.

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