US July non-farm payroll growth expected to slow steadily
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According to foreign media reports, US July employment may grow at a slow but still healthy pace, which may help alleviate concerns about the rapid deterioration of the labor market, a concern triggered by the unemployment rate rising to a two-and-a-half-year high of 4.1% in June. The slowdown in July employment growth may be partly due to the impact of Hurricane Beryl. At the same time, the average hourly wage growth rate in July is expected to slow to a three-year low, which may lay the foundation for the Fed to cut interest rates in September
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