Wall Street is increasingly betting the latest jobs report will take a Fed rate hike off the table and give stocks room to climb.
The Bureau of Labor Statistics' July labor market report showed the economy lost 23,000 jobs, far short of expectations. The unemployment rate fell to 4.1% as labor force participation dropped to a near-pandemic low.
"The report suggests that the economy is seemingly slipping back toward the 'no hire, no fire' narrative that characterized the labor market through much of 2025," said Jim Baird, chief investment officer with Plante Moran Financial Advisors, in a note on Friday.
The latest report shows the three-month rolling average of job gains has fallen to just 20,000, while the six-month average has declined to a weak 44,000, noted Ameriprise chief economist Russell Price.
"There were many moving parts, but very little to like about this report," said Price on Friday. "If the job market falters, consumers and the economy might not be far behind."
#labor #latest
The Bureau of Labor Statistics' July labor market report showed the economy lost 23,000 jobs, far short of expectations. The unemployment rate fell to 4.1% as labor force participation dropped to a near-pandemic low.
"The report suggests that the economy is seemingly slipping back toward the 'no hire, no fire' narrative that characterized the labor market through much of 2025," said Jim Baird, chief investment officer with Plante Moran Financial Advisors, in a note on Friday.
The latest report shows the three-month rolling average of job gains has fallen to just 20,000, while the six-month average has declined to a weak 44,000, noted Ameriprise chief economist Russell Price.
"There were many moving parts, but very little to like about this report," said Price on Friday. "If the job market falters, consumers and the economy might not be far behind."
#labor #latest
12 days ago
