Market Forecast for US July Non-Farm Employment Data Likely Below Expectations
Publication Time:2024-08-02 20:21:07
Tonight, the US will release its July non-farm employment report. Market estimates predict the addition of 175,000 non-farm jobs for the month with an expected monthly increase in hourly wages of 0.3%. However, some analysts from investment banks warn that tonight's figures could disappoint expectations. Moreover, the unemployment rate is forecasted to remain at 4.1%, marking the first time in three months it has risen since June. Since the unemployment rate dropped to a 50-year low of 3.4% in April this year and began gradually climbing, there have been discussions about the possibility of a recession. But some economists argue that these concerns might be misinterpretations, given that the number of layoffs remains at historically low levels.
Market Forecast
Non-Farm Employment Data
US Employment Market