US payrolls surprise lower, easing inflation concerns
The US jobs report showed an unexpected 23,000 decline in July and downward revisions to prior months, pointing to softer labour market momentum and reduced inflation pressure.
The July US employment report showed an unexpected drop of 23,000 jobs, while prior data was revised down by 103,000. This points to a weaker growth picture in the US economy.
The report is also consistent with a stagnating labour force, which is reducing growth. The softer data may ease concerns about US inflation.
Source: FXStreet Forex News