TechFlow news, on August 21, according to Jinshi Data, the U.S. Bureau of Labor Statistics previously released its preliminary report on nonfarm employment and wage counts for the first quarter of 2024, showing job growth significantly lower than initial estimates. This revision could trigger market concerns that the labor market is deteriorating faster than expected, intensifying worries that the Federal Reserve may be lagging in its decision to cut interest rates. The data will influence Federal Reserve Chair Jerome Powell’s assessment of the labor market as he prepares to speak at the Jackson Hole annual symposium on Friday.
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