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July Jobs Report Shows Hiring Slowdown as Unemployment Rises
July Jobs Report Shows Hiring Slowdown as Unemployment Rises
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BTCCSquare news:
The U.S. labor market displayed signs of moderation in July, with nonfarm payrolls growing by 105,000—a deceleration from June's 147,000 job additions. Unemployment edged up to 4.2%, reflecting subtle shifts in economic conditions. Wage growth persisted, with average hourly earnings rising 0.3% month-over-month and 3.8% annually.
Investors scrutinized the data for implications on Federal Reserve policy, as inflationary pressures complicate the timeline for potential rate cuts. "The labor market is moderating rather than deteriorating," noted BofA economist Shruti Mishra, suggesting the Fed may maintain its current stance.
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