From Quiver Quantitative: 2024-08-01 12:12:26

U.S. labor costs rose moderately in the second quarter, with private sector wages growing at their slowest pace in 3.5 years, potentially leading to a September interest rate cut. Jobless claims reached their highest level in nearly a year, raising concerns about the labor market. Despite this, layoffs remain low, and there was a significant drop in planned job cuts in July. Worker productivity increased at a 2.3% annualized rate, indicating firms can control costs. This may help ease inflation and support economic growth, creating a more favorable environment. The upcoming employment report will provide further insights into the labor market.



Read more at Quiver Quantitative: U.S. Labor Costs Rise Moderately; Jobless Claims Hit Yearly High