U.S. private sector non-farm employment change in July (thousands) fell short of expectations: 30 vs 78

U.S. July private non-farm payrolls rose by only 30k, missing the 78k forecast, signaling a sharper labor market cooling and boosting rate cut expectations.

The change in private-sector non-farm employment in the U.S. for July was 30 thousand, lower than the expected 78 thousand and the previous figure of 49 thousand. The significantly weaker-than-expected data indicates that the cooling of the labor market has been more pronounced than market consensus, which may strengthen expectations of a rate cut and increase the likelihood of monetary easing.