US Hiring Slows to Lowest in 5 Months at 177k Jobs: ADP Report
US firms recorded the slowest gain in monthly job additions in 5 months, new ADP data shows.
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The reasons for the Federal Reserve to remain hawkish pile up as new jobs data report points to remarkable strength in the US economy.
US firms recorded the slowest gain in monthly job additions in 5 months, new ADP data shows.
CPI print showed inflation rose to 3.2% annually in July, compared to the expected 3.3%.
Jobs growth and unemployment rate came weaker than expected in July, at 187,000 and 3.5%, respectively.
The odds of US soft landing are rising as Fed's preferred gauge of inflation fell considerably in June to 4.1%, from 4.6% in May.
Oil prices are on track to rise for the fifth consecutive week as further supply cuts and soft landing prospects lead to greater appetite for risk…
The latest CPI data released showed U.S. inflation hit 9.1% in June, topping the consensus estimates of 8.9%.
Amidst surging gas prices and growing inflation, the possibility of an economic recession heightens as the US yield curve begins to flatten.