Key Factors to Assess in the June Jobs Report from U.S. Government

Money | July 5, 2024, 4:23 a.m.

The U.S. economy is expected to show slowing but steady job growth in June, as the nation is on track for a "soft landing." Unemployment has remained low, and job gains are increasing. Wage pressures are easing, giving companies room to adjust prices. Forecasters anticipate moderate hiring and stable job growth, with unemployment holding steady at 4%. The Federal Reserve is closely monitoring inflation, looking for signs it is decreasing. Fed Chair Jerome Powell suggests a rate cut may be on the horizon if inflation continues to slow. While policymakers may hold rates steady in July, a cut in September is likely. Economists predict further rate cuts by the end of the year if labor market conditions worsen. In summary, the U.S. economy is expected to continue its steady growth trajectory, with the Federal Reserve prepared to take action if needed.