U.S. Private Hiring Weakens in July as Markets Await NFP Confirmation
đ U.S. private employers added only 44,000 jobs in July, below the 70,000 forecast and sharply lower than the revised 95,000 recorded in the previous month. This was also the weakest increase in around six months.
đ Services added 47,000 jobs, while the goods-producing sector lost 3,000, highlighting continued divergence across industries and a clearer slowdown in labor demand.
đ” Pay growth for workers who remained in their jobs held at 4.4% year over year, indicating that wage pressures have not fully eased and that the Fed may require more evidence before adjusting its policy stance.
đ The weaker report could place mild pressure on the U.S. dollar and Treasury yields while supporting risk assets in the short term. However, the August 7 NFP report will be more important in confirming the extent of the labor-market slowdown.
#USEconomy
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đ U.S. private employers added only 44,000 jobs in July, below the 70,000 forecast and sharply lower than the revised 95,000 recorded in the previous month. This was also the weakest increase in around six months.
đ Services added 47,000 jobs, while the goods-producing sector lost 3,000, highlighting continued divergence across industries and a clearer slowdown in labor demand.
đ” Pay growth for workers who remained in their jobs held at 4.4% year over year, indicating that wage pressures have not fully eased and that the Fed may require more evidence before adjusting its policy stance.
đ The weaker report could place mild pressure on the U.S. dollar and Treasury yields while supporting risk assets in the short term. However, the August 7 NFP report will be more important in confirming the extent of the labor-market slowdown.
#USEconomy
$BTC $ETH $SOL