A gradual slowdown in the economy and Hurricane Beryl are expected to have taken some of the steam out of hiring in July.
The nonfarm report Friday from the Bureau of Labor Statistics is forecast to show payroll gains of 185,000 in July, down from 206,000 in June.
People line up as they wait for the JobNewsUSA.com South Florida Job Fair to open at the Amerant Bank Arena on June 26, 2024, in Sunrise, Florida.The U.S. labor market may have cooled some in July, as a gradual slowdown in the economy and Hurricane Beryl are expected to have taken some of the steam out of hiring.
Indeed, the report from the department's Bureau of Labor Statistics is forecast to show payroll gains of 185,000 on the month, down from, with the unemployment rate holding at 4.1%, according to the Dow Jones consensus estimate. Job reports for the past year and a half have routinely beaten the consensus.
"When we look back at today, …. I kind of believe that we will say that we were in recession in September 2024," he said.voted to hold its benchmark overnight borrowing rate in a range of 5.25%-5.5%, where it has been for the past year.
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