The US labor market is showing signs of weakening for the third consecutive summer, according to a Bloomberg Economics report. Payrolls fell by 23,000 in July, the first negative month since February, with revisions to previous data showing a downward adjustment of more than 100,000 jobs. The Federal Reserve maintained its target range at 3.5% to 3.75% during its June and July meetings, but current conditions are intensifying discussions on potential rate cuts. Markets are adjusting their expectations, with decreased probability of a rate hike by September.
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