The Federal Reserve Bank of Chicago released its advance Labor Market Indicators for July at 4.13%, down from 4.19% in the prior period. This reading suggests that the official national unemployment rate, which has hovered around 4.2% in recent months, could print slightly lower in next week’s Bureau of Labor Statistics (BLS) report. The LMI tracks three core components: layoffs, the hiring rate for unemployed workers, and a forecast of the BLS unemployment rate. The final LMI reading is scheduled for August 6, one day before the market opens for a new trading week.
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