The slowdown in US non-farm payrolls provides a reason for the Fed to start cutting interest rates

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Cointime2024/07/05 13:31

By:Cointime

US hiring slowed down in June, and data from the previous months was also revised downwards, increasing the possibility of the Federal Reserve lowering interest rates in the coming months. Data released by the US Bureau of Labor Statistics on Friday showed that non-farm payrolls increased by 206,000 last month, while the number for the previous two months was revised downwards by 111,000. Economists surveyed had predicted a median increase of 190,000. The unemployment rate rose to 4.1%, and average hourly earnings growth also cooled off.

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