Bank of America economists: July non-farm payrolls will show a gradual cooling of the labor market

BlockBeats news, on August 2, Wells Fargo senior economist Sarah House pointed out that the momentum of the U.S. labor market slowed in the second quarter, alleviating concerns that job growth could increase upward pressure on inflation. The key question for the employment report in July and the rest of 2024 is whether the slowdown in job growth indicates a normalization of the labor market or the beginning of a more serious economic slowdown. Bank of America economist Michael Gapen said in a research report that the report may show a gradual cooling of the labor market. (Jinshi)