The report also detailed that The unemployment level dropped 0.1 pointsup to 4.1%, against the consensus of economists, who expected it to rise to 4.3%. For its part, Average hourly salaries had a moderate rise of 0.2% compared to 0.3% estimated.
The Fed moves away from trimming the rate
The CEO of Insider Finance, Pablo Lazzatihe explained to this medium that the report of the report “is positive for the American market” and what “It is not a enough ‘trigger’ for the Fed to hurry to cut rates “.
For its part, the Research Analyst of INVIU, second derdoy, said that “the labor market was resilient during June creating more employment than expected.” He argued that “this report It contributes to moderating concerns about a possible deeper slowdown in the labor market”
In addition, he raised Scope that “The type cut in September is no longer completely discountedsince the Fed has practically maintained the monetary policy waiting during the summer (boreal). “And he added that”The bond market is the one who suffers the most at this time With a jump in yields, mainly in the 2 -year bonus that reached 3.90%. ”
Similarly, Alan Mac Carthy, CEO of Front Investmentsexplained that “the Federal Reserve will keep the ‘Wait and see’ “position. From his perspective, “Fed needs to see a clearer and more sustained deceleration In the labor market (and without inflationary regrowths) to advance with an immediate rate cut, but most likely to wait. ”
Education and health: employment engines
The report of the BLS He explained that public employment increased by 73,000 jobs in June. Within that category, jobs within State governments increased by 47,000explained almost entirely by The education item (+40,000). In this sense, employment in The educational sector of local governments maintained its upward trendwith the incorporation of 23,000 new positions.
For its part, The health sector created 39,000 jobswith the main increases in hospitals, which added 16,000, and in residential and care care centers, With 14,000 new positions. Employment in social assistance also maintained its upward trend (+19,000), which reflects continuous growth in individual and family services (+16,000).
For the Sailing Investment Research Head, Theo Sojothe employment data “It is inflated by an unusual rise in hiring in the public sector”especially in education. Without that, he added that the panorama is much more different: “Private employment rose only 74,000, The lowest number since October 2024sustained barely by employees in health. “
In fact, The manufacturing sector lost 7,000 jobswhile the category of wholesale trade lost 6,600. This is added another 7,000 less jobs in the federal government, a large product of Elon Musk’s “chainsaw” on the public sector.
Clouds on the horizon?
For Derdoy “The labor market does not shout for a rate cut, but some data begin to show greater caution”. In line, Sojo stated that “the US labor market. It begins to show cooling signalsbeyond the conjunctural impulse generated by the public sector. “
And argued that “Unemployment requests have been rising since May and are at the highest level since 2021. In addition, salary growth continues to lose strength: They rose only 0.2% monthly and 3.7% year -on -year, the lowest rhythm since July of last year“
Source: Ambito
