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US Job Market Holds Steady, Fed May Delay Rate Cut Restart Until September
Summary: According to sources, the US job market showed steady performance in June, with non-farm payrolls increasing by 147,000, higher than the revised 144,000 in May; the unemployment rate unexpectedly dropped to 4.1%, compared to economists' previous forecast of a slight increase to 4.3%. The report indicates that the labor market remains stable, which may lead ...
According to sources, the US job market showed steady performance in June, with non-farm payrolls increasing by 147,000, higher than the revised 144,000 in May; the unemployment rate unexpectedly dropped to 4.1%, compared to economists' previous forecast of a slight increase to 4.3%. The report indicates that the labor market remains stable, which may lead the Fed to delay the restart of rate cuts until September. Despite job growth exceeding expectations, the pace is slowing, mainly reflecting weak hiring activity. Layoffs remain relatively low, with employers hoarding workers during and after the COVID-19 pandemic as they struggle to find labor. Multiple indicators, including initial jobless claims and continued claims, show signs of fatigue in the labor market after a strong performance in protecting the economy from recession. At that time, the Fed tightened monetary policy significantly to combat high inflation.
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Link: US Job Market Holds Steady, Fed May Delay Rate Cut Restart Until September [Copy]
