NFP : Steady Growth for July?

A 600k July Non-Farm payroll increase is anticipated, after gains of 850k in June and 583k in May. The jobless rate should drop to 5.7% from 5.9% in June and 5.8% in May. Hours-worked are assumed to rise 0.7% after a 0.2% June increase, while the workweek ticks up to 34.8 from 34.7 in June as some of the constraints in the labor market dissipate.

The labor market data have been significantly distorted by a number of factors that have caused a major mismatch of supply and demand, including ongoing effects from the pandemic, indlucing various restrictions and child care issues, unemployment benefits, and seasonal factors, while the chip shortages continue to plague various industries, and especially in autos.

Click here to access our Economic Calendar

Stuart Cowell

Head Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

Forex Pulse Detector

You May Also Like