Danske Bank Forecasts Solid US Labor Market with 70k NFP Gain
Danske Bank expects US Nonfarm Payrolls to increase by 70,000 in July, with the unemployment rate unchanged at 4.2% and average hourly earnings rising 0.3%, signaling continued labor market strength.
Danske Bank's research team released its July US jobs report preview, projecting a 70,000 rise in Nonfarm Payrolls. The unemployment rate is forecast to hold steady at 4.2%, while average hourly earnings are seen up 0.3%, underscoring a still-resilient labor market. The bank's note suggests that despite some cooling, the job market remains supportive of the US economy, which could influence the Federal Reserve's policy stance. The next NFP release will be closely watched for any divergence from these expectations.
Source: FXStreet Forex News