CITIC Securities: The U.S. job market remains resilient, making a Fed rate cut in July less likely
According to ChainCatcher, as reported by Jintou Data, a research report from CITIC Securities states that key U.S. employment indicators include nonfarm payroll additions, unemployment rate, jobless claims, and job vacancies. From a multidimensional perspective, the U.S. labor market remains resilient.
Although jobless claims in the U.S. have risen and the one-month employment diffusion index for all private sectors is in contraction territory, key indicators such as nonfarm payroll additions and the unemployment rate demonstrate the resilience of the U.S. job market. The stabilization of several data points supports the Federal Reserve's decision to observe before cutting rates.
The Federal Reserve does not need to rush to cut rates, and the probability of a rate cut in July is relatively low.
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