July Jobs Report Preview: Labor Market Slowdown Expected
The US labor market is expected to slow down in July, according to economists' projections. The nonfarm payroll gain is anticipated to be just 83,000 for the month, a figure that suggests a continued cooling in the U.S. labor market.
The unemployment rate is expected to remain unchanged at 4.2%, a reading that reflects a gradual softening from the sub-4% readings seen for much of the past two years.
The jobs report arrives at a delicate moment, with the Federal Reserve balancing its inflation fight against signs that the labor market is beginning to lose some momentum.
Economists and market participants will be scrutinizing the payrolls figure for clues about underlying demand for workers. A print near the 83,000 consensus would mark a slowdown relative to the average monthly gains recorded earlier in the year.