The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
US employers unexpectedly cut jobs in July and hiring in the prior two months was revised lower, suggesting the labor market is weaker than previously thought after surprising strength earlier this year.
Nonfarm payrolls decreased 23,000 last month following a combined 103,000 downward revision to the May and June figures, Bureau of Labor Statistics data showed Friday. The unemployment rate fell to 4.1% as labor force participation continued to slide, and wage growth slowed. The report suggests the labor market may be starting to falter amid rising prices and uncertainty from the Iran war, despite recent data showing strength in consumer spending and business investment. The data could also prompt the Federal Reserve to delay interest-rate increases as officials weigh inflation against risks to employment.US stocks opened higher and Treasury yields fell as investors reduced bets on a Fed rate hike in September. Still, upcoming reports on consumer prices — including data for July next week — could ultimately decide the Fed’s course of action next month.
On this episode, Carol Massar and Tim Stenovec speak with:
Mike McKee, Bloomberg TV and Radio International Economics & Policy Correspondent AND Matthew Luzzetti, Chief US Economist, Deutsche Bank
Laura Ulrich, Director of Economic Research, Indeed on where the jobs are, hiring trends, AI in the jobs market
Randall Williams, Bloomberg News Senior Reporter & Co-Host of ‘Business of Sports’ Podcast on latest podcast episode, sports streaming prices, FIFA latest
Davide Barbuscia, Bloomberg News Corporate Finance Reporter on AI Debt Indigestion Forces Wall Street to Rethink Bond Sales
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