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Non-farm payrolls fell short of expectations, market believes rate hike delayed until end of year

MarsBitNews
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Mars Finance News, July 2 - The U.S. June non-farm payroll data showed that although the unemployment rate fell, hiring activity slowed sharply in June, curbing the momentum of early employment growth this year. According to data released by the U.S. Bureau of Labor Statistics on Thursday, after downward revisions of 74k to the previous two months' data, non-farm payrolls increased by 57k in June (market expectation was 110k). The unemployment rate fell because the labor force participation rate dropped significantly—when the labor force participation rate declines, it means some people have left the labor market (e.g., giving up job searches, retiring early, returning to school, etc.). These individuals are no longer counted as "unemployed" or part of the "labor force," leading to a decrease in the unemployment rate. After the data was released, spot gold rose in the short term, and the market also reduced bets on a Federal Reserve rate hike. The market has fully priced in a Fed rate hike in December, compared with the previous expectation of an October rate hike.
GLDX1.07%
PAXG1.20%
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