Bank of America economist: July non-farm payrolls will show a gradual cooling of the labor market
Sarah House, Senior Economist at Wells Fargo, pointed out that the momentum in the US labor market slowed down in the second quarter, alleviating concerns about increased inflationary pressures from job growth. The key question for the employment reports in July and the remaining time of 2024 is whether the slowdown in job growth indicates a normalization of the labor market or heralds the beginning of a more serious economic slowdown. Michael Gapen, an economist at Bank of America, stated in a research report that the report may indicate a gradual cooling of the labor market
On August 2nd, according to the data from FXStreet, Sarah House, senior economist at Wells Fargo, pointed out that the momentum of the US labor market slowed down in the second quarter, easing concerns about potential inflationary pressures from job growth. The key question for the employment reports in July and the remaining time of 2024 is whether the slowdown in job growth indicates a normalization of the labor market or heralds the beginning of a more serious economic slowdown. Michael Gapen, economist at Bank of America, stated in a research report that the report may indicate a gradual cooling of the labor market