2024-07-06 07:02:56 ET
Summary
- The unemployment rate surpasses 4% for the first time since January 2022.
- This comes at a time of increased jobseekers, and weakening job and wage growth numbers.
- The Fed may respond to these figures in their next meeting, but are unlikely to cut rates until the September meeting. This data may ensure the Sept. cut happens.
- Investors need to understand the reason why these trends are moving and how to prepare their portfolios.
Introduction
This month, the government released new jobless claims numbers from the Bureau of Labor Statistics that shocked many people. The unemployment rate has gone above 4% for the first time since January 2022, a jump that could signal future interest rate cuts from the Fed....
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Unemployment Is Up, Job Growth Is Slowing, Rate Cuts Incoming