Non-Farm Payrolls Preview: Will US the employment market start to build momentum?
The June US jobs report is due to be released at 1.30pm, on Friday 2 July (UK time). Coming at a time when markets are desperately trying to ascertain whether the Federal Reserve (Fed) was right to take on a more hawkish stance, this months jobs report provides a critical update on the health of the economic recovery in the US.
Last month saw a somewhat underwhelming rise in payrolls, with a reading of 559,000 falling short of market expectations. While we did see an improvement over the prior month, we are yet to see a sustained recovery in jobs. With the Fed shifting in anticipation of higher prices and jobs, the ability to maintain an upward economic trajectory will be key for monetary policy expectations.
What do other employment readings tell us?
Markets are optimistic for Friday’s jobs report, with predictions of a figure around 700,000 for the headline payrolls figure…