U.S. to Report on July Employment as Inflation and Fed Rate Hikes Hit Economy

Reading now: 256

The U.S. labor market likely cooled again in July, economists estimate, as the economy faltered under the weight of high inflation and Federal Reserve interest-rate increases to cool demand.Employers are estimated to have created 258,000 jobs in July, with the unemployment rate staying steady at 3.6%, according to economists surveyed by The Wall Street Journal.

That would mark a significant slowing of payroll growth in the first half of the year that was faster than during any other post-World War II period when the economy began contracting.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News