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📊🇺🇸Labour Market Pace Shows Signs Of Cooling: Cable FX Macro

**As seen in Non Farm Payrolls Dashboard, subscribe at

  • July Non Farm Payrolls posted headline job growth of 187K from the prior of 185K (June downward revision from 209K)

  • The consensus forecast was missed at 200K, the projection range went from 150K to 300K. July is the second consecutive month of a headline miss

  • With the prior month getting a downward revision, June and July post the weakest two-month figure in more than two-years

  • Despite the softness in the headline, the jobless rate surprised to the downside at 3.5% while average hourly earnings accelerated faster than expected at 0.4% M/m

  • Information, transportation, and the business services sectors posted the largest declines. Education led in July



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