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.
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.Still, even if the Labor Department's nonfarm payrolls report for July, to be released Friday at 8:30 a.m. ET, does indicate a weaker jobs picture, the decline is expected to be only incremental and in keeping with the type of gentle downshift the Federal Reserve is looking to engineer.
But some economists think the report could be on the light side; Goldman Sachs expects Beryl, which ravaged large parts of Texas, particularly Houston, to pull down the jobs number by 15,000. The firm thinks the total payroll gain will be more like 165,000. Citigroup projects an even lower number — 150,000 on payrolls and a tick higher in the unemployment rate to 4.2%.is in danger of being triggered.
"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.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hurricane Beryl: Texas Lt. Governor announces creation of committee to investigate Beryl recoveryTexas Lieutenant Dan Patrick announced a special committee has been formed to investigate the recovery from Hurricane Beryl.
Read more »
Hurricane Beryl: From bayous reaching their banks to flying bricks, Beryl brings chaos to Space CityBraes Bayou was one of the city's bayous that came out of its banks to make driving impossible for a few hours on North Braeswood.
Read more »
How does a hurricane get the name Beryl?Before Hurricane Beryl roared toward Texas, the name Beryl was not on most people's radar.
Read more »
Feeling stressed over Hurricane Beryl, hurricane season?The Institute for Spirituality and Health offers free, virtual and in-person workshops on breathing techniques, meditation, and yoga to help Houstonians manage stress and promote well-being after hurricane season.
Read more »
Hurricane Beryl makes landfall on Texas coast as a Category 1 hurricaneBeryl made landfall on the Texas coast near Matagorda early Monday with a dangerous storm surge and strong winds, the National Weather Service reported.
Read more »
WATCH: Hurricane Hunters record Hurricane Beryl's dangerous eyewall before Jamaica landfallHere is a look inside dangerous Hurricane Beryl
Read more »