Reported about 1 year ago
The US Bureau of Labor Statistics reported 206,000 new jobs added in June, surpassing expectations, but also revealed significant downward revisions to previous months' data and a rise in the unemployment rate to 4.1%. This data indicates a cooling labor market, supporting speculations that the Federal Reserve might start cutting interest rates in September. Citi economists are forecasting three rate cuts in late 2024, with Rabobank's Jane Foley expecting two cuts by the end of the year. While the jobs report suggests a positive signal for the Fed, concerns about inflation, especially in the services sector, remain. Watch the full Catalysts episode for more expert insights and market updates.
Source: YAHOO