Gate News bot message, financial information service provider Newsquawk predicts that the non-farm payrolls in the U.S. will rise by 129,000 in June, the unemployment rate will remain at 4.2%, and the average hourly wage month-over-month may drop to 0.3%. The Federal Reserve Chairman Powell believes that the labor market is robust but showing a slow cooling, which is not concerning. He emphasizes that the rise in job creation and labor force participation rate indicates a sustained economic recovery.
However, regardless of how the employment data performs, it may be used as an argument for interest rate cuts. If the data performs well, it could be seen as the economy overheating; if the data is poor, it may be interpreted as the economy needing stimulus. In this case, the employment report could become a two-way rationale supporting interest rate cuts. (Source: Jin Shi)
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