TechFlow news, February 28 — According to Jinshi Data, S&P Global Market Intelligence said the U.S. monthly employment report (including non-farm payroll data) next Friday will provide the latest clues on the strength of the labor market.
Although January's figures showed job growth below expectations, they also indicated that the unemployment rate fell from 4.1% to 4.0%, and wage growth rose from 3.8% to 4.1%.
Therefore, labor data is widely seen as supporting the Fed's shift toward slowing the pace of rate cuts this year, "though more signs are needed regarding the economic situation since the presidential election."
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