Decreased competition boosts employment opportunities, while falling oil prices support the economy in the second half of the year

```htmlGolden Ten Data reported on July 2 that BMO Senior Economist Sal Guatieri provided the following interpretation of the decline in unemployment rate: "Unemployed workers may now have a slightly better chance of finding a job, but this is not due to strong hiring, rather it's because job competition has eased. This also explains why job vacancies are increasing." However, even considering that employment data fell short of expectations, Nationwide Chief Economist Kathy Bostjancic still believes the economy is well prepared for the second half of the year: "Recently, oil prices fell below $70 per barrel, which should gradually lead to lower gasoline prices, further supporting consumer spending and the overall economy."```