https://www.bls.gov/news.release/empsit.nr0.htm
Consensus forecast (per AP / FactSet) was for +175,000 jobs and for UR to remain at 4.1%, so actual figures surprised on the low side for jobs and on the high side for unemployment.
Jobs figures for May were revised down by 2,000, from +218,000 to +216,000. Jobs figures for June were revised down by 27,000, from +206,000 to +179,000. Combined, previous month employment level was revised down by 29,000.
FRED graph of monthly change (in thousands) in nonfarm payroll employment levels since Jan 2021.
Posted by JeromesNiece
12 Comments
Bruh, we need 50bps cut in September. Come on JPow get everyone on board.
Rut-roh
Who’s ready for the onset of a recession to spice up the election season
This means we got an interest rate cut coming right ?
We needed that rate cut this week
Fed was behind the curve on this.
Fed did a terrible job preventing inflation, was slow AF to react, and now is going to be too slow to cut rates. People in here will still slobber over JPOW.
Interest rates have a lag. Fed being overly data dependent can be dangerous because data takes time to reflect rates. I think they should have cut in July.
It is what it is, but a stock market correction and a possible recession is not good for the Dems in November.
Fed should have cut in July. Inflation is basically over and cracks have started to form in the economy. They’re going to wait to long to adjust, just like they did when inflation was rising.
Was late to increase rates now he is running late to start cutting. Jpow is asleep
Oh that’s not –
Emergency 25bps cut needed now. Then another in September.