The job market in July may have been its worst since October, according to forecasters, as trade wars drag down hiring. Original Image Link Source:www.msn.com
The dollar dropped on Friday and was on track for its biggest daily loss against the euro and yen since April after data showed that U.S. employers added fewer jobs in July than economists had expected, Original Image Link Source:www.msn.com
Employers across the U.S. added 73,000 jobs in July, a slowdown from previous months and a sign the labor market is downshifting. Hiring was weaker than expected by economists, who had forecast payroll gains of 115,000 jobs last month, according to a poll by FactSet. Original Image Link Source:www.msn.com
President Donald Trump on Friday afternoon called for the ouster of the head of the Labor Department’s statistical arm after the latest monthly jobs report came in well under expectations. Original Image Link Source:www.msn.com
On the long end of the Treasury market, moves have been much more modest. The 10-year’s yields have traded as low as 4.229%, marking the largest intraday decline since mid-April. The 30-year yield’s decline is even milder, down just 0.0077 percentage points. Original Image Link Source:www.msn.com
Friday's labor report comes as investors have been closely watching for any signs of cooling in the labor market that could prompt the Federal Reserve to cut interest rates. Original Image Link Source:www.msn.com
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