#NFPWatch
The latest Non-Farm Payrolls (NFP) report showed 147,000 new jobs in June, exceeding the anticipated 106,000 and causing markets to adjust expectations for the Federal Reserve's interest rate policy. Here's what you need to know ¹ ²:
- *Job Growth*: The June NFP report revealed a stronger-than-expected job growth, with 147,000 new jobs added, surpassing forecasts.
- *Unemployment Rate*: The unemployment rate unexpectedly dropped to 4.1%, the lowest since February, beating forecasts of 4.3%.
- *Market Reaction*: The stronger-than-expected jobs data has effectively ruled out a July rate cut, with traders pricing in only a 4.7% chance of a rate cut in July, down from 23.8% previously.
- *Fed Policy*: Analysts believe the strong labor market will support the Fed's decision to keep rates higher for longer, with some predicting a wait-and-see approach over the summer.
