trending Market Intelligence /marketintelligence/en/news-insights/trending/Is4ZRKtxphRKDGjaSUU1iw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

US job growth, annual wage growth top estimates in July

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

Digital Banking Battles Will Play Out In Southeast Asias Shopping Cart

US job growth, annual wage growth top estimates in July

Total nonfarm payroll employment in the U.S. grew by 164,000 in July, topping the Econoday consensus forecast of 151,000 additional jobs.

Job gains were led by the professional and technical services segment and the healthcare sector, which added 31,000 and 30,000 jobs respectively, data from the U.S. Bureau of Labor Statistics showed.

Employment figures for June were revised down to 193,000 from 224,000, while May's job gains were revised down to 62,000 from 72,000.

SNL Image

Average hourly earnings rose by 3.2% year over year, surpassing market estimates of 3.1% annual growth.

The labor force participation rate was 63%, little changed from June. The unemployment rate was unchanged at 3.7%.

Yields on 10-year Treasurys shed 2 basis points to 1.874% as at 8:49 a.m. ET after the report was released. The Dollar Index, which tracks the U.S. currency's performance against a basket of developed market peers, was down 0.1% at 98.28.

The data comes as the Federal Reserve lowered its benchmark interest rate by 25 basis rate cut July 31. Fed Chair Jerome Powell described the cut as a "midcycle adjustment" rather than the beginning of a lengthy easing cycle, as the president said he sees no real economic weakness that needs a series of rate cuts.

Analysts, however, believe that the rate cut may not be a "one-and-done" action as the U.S.-China rift is set to worsen. Markets are pricing in a 99.6% probability for a 25 basis-point cut for the Fed's September meeting, as indicated by the CME Group's FedWatch tool.

SNL Image