July jobs report expected to show further cooling in labor market

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Unemployment Rate News

Jerome Powell,Labor Market,Bureau Of Labor Statistics

The July jobs report comes at a critical moment as investors weigh whether the labor market is still normalizing to pre-pandemic levels or flashing signs of ...

The July jobs report is expected to serve as the latest piece of economic data indicating that the US labor market is slowing down asThe monthly report from the Bureau of Labor Statistics, slated for release at 8:30 a.m. ET on Friday, is expected to show nonfarm payrolls rose by 175,000 in July while the unemployment rate remained steady at 4.1%, according to consensus estimates compiled by Bloomberg.while the unemployment rate unexpectedly rose to 4.1%.

Fed Chair Jerome Powell offered similar sentiment about the labor market during his press conference on Wednesday. Powell noted the Fed is now more attentive to not only the risk of inflation not falling, but also the risk of unemployment continuing to tick higher. For now, Powell said the Fed still believes the labor market is in the process of a "gradual normalization.

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