U.S. Employment Unexpectedly Dips By 23,000 Jobs In July

The U.S. Labor Department reported that employment unexpectedly fell in July, a downside surprise versus expectations. The softer labor print adds caution for growth and may pressure rate expectations, supporting volatility in credit and Treasury yields.

Analysis

The U.S. Labor Department reported that employment unexpectedly fell in July, a downside surprise versus expectations. The softer labor print adds caution for growth and may pressure rate expectations, supporting volatility in credit and Treasury yields.