Reported about 1 year ago
On July 5, 2024, the US nonfarm payrolls for June showed a slowdown in job growth, with the unemployment rate rising to 4.1%, reaching a near three-year high. This indicates a cooling job market in the US, leading to an increased likelihood of a rate cut by the Federal Reserve in September. Following the report, the US dollar and bond yields fell. Despite the increase in new jobs by 206,000 people in June, lower than the revised 218,000 in May, the unemployment rate rose unexpectedly to 4.1%, with economists predicting a decrease. Wage growth slowed down in June, with average hourly wages recording their smallest year-on-year increase since June 2021.
Source: YAHOO