The July jobs report missed expectations, with only 114,000 jobs created, falling short of the 175,000 forecasted. RSM chief economist Joe Brusuelas, and...
The July jobs report missed expectations, with only 114,000 jobs created, falling short of the 175,000 forecasted. RSM chief economist Joe Brusuelas , and Janus Henderson Investors head of Americas equities Marc Pinto join Morning Brief to discuss what this report means for potential Federal Reserve rate cuts .
And I think going in one of the real risks or one of the real concerns here from the street is that we were going to see a dramatic drop.Well, it's, um it's definitely a weaker number than people expected. And and you just mentioned that we 200,000 jobs per month just to keep the unemployment rate stabilised.Right now, we're averaging about 100 6,970,000 jobs over the last three months.
I think we can begin talking about the possibility, if not probability, of 75 basis points of cuts this year.That's gonna be scored as a 4.3 because 420,000 additional people entered the labour force.The unemployment rate's not going up necessarily because we've seen a lot of layoffs. You can see that we got a little bit of a disappointment in terms of how many people were hired by the state governments.So there's a lot on the table, but I think the primary takeaway is labour markets normalising.Even if you get numbers below that, you're gonna continue to see that number that unemployment rate increase.We were one of the ones calling for a July rate cut.
Marc Pinto Chief Economist Joe Brusuelas Rate Cuts Janus Henderson
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.
Young basketball players set to descend upon Lethbridge for new provincial tournamentThe tournament takes place from July 19 to July 21.
Read more »
Edmonton International Street Performers Festival begins Friday as event turns 40'StreetFest' runs from July 5 to July 14 and is free to the public.
Read more »
‘ETH is slow after Ethereum ETF’ – What happens now?From 23rd July to 26th July, Grayscale ETH ETF experienced over $1.5 billion in outflows, including $356 million on 26th July.
Read more »
Explore: Saanich Flavour Trails, Hispanic Picnic, Fest of IndiaUpcoming events: Saanich Flavour Trail, July 6, 7; Hispanic Picnic, July 6; Festival of India, July 7
Read more »
Vancouver's July home sales slid 5% from last year, listings up 20%VANCOUVER — Greater Vancouver Realtors says last month's home sales in the region dropped five per cent from a year ago, even as the number of new listings...
Read more »
Economy Only Added 114,000 Jobs in July, Unemployed People Looking for a Job Increased by 366,000Unemployment rose to 4.3%, the highest since October 2021.
Read more »