U.S. average hourly wage (monthly rate) in July fell short of expectations: 0.1% vs 0.3%

U.S. July average hourly wage growth came in at 0.1%, missing the 0.3% forecast. The soft data signals a cooling labor market and easing inflation, bolstering expectations for Fed rate cuts.

The average hourly wage growth rate in the U.S. in July was 0.1%, lower than the expected 0.3% and the previous figure. The weaker-than-expected data indicates a cooling labor market, suggesting reduced inflation pressures, which could strengthen market expectations that the Federal Reserve will maintain accommodative policies or implement further rate cuts.