TechFlow news, June 30 — According to Jinshi Data, financial news provider Newsquawk expects U.S. nonfarm payrolls for June to increase by 129,000, with the unemployment rate expected to remain unchanged at 4.2%. The monthly average hourly earnings are projected to decline from 0.4% to 0.3%, while the average weekly working hours are expected to stay unchanged at 34.3 hours.
Jerome Powell stated that the labor market remains solid, although he acknowledged a "very gradual ongoing cooling," which he does not consider concerning. Powell also noted that strong job creation and labor force participation are signs of continued economic recovery—a view echoed by other officials.
Nonetheless, any "not too bad" employment data could be seized upon by Trump as a reason for the Fed to cut interest rates; similarly, any downside surprise in labor data might also be used by Trump as justification for the Fed to lower rates.
