Economists are anticipating that the upcoming July jobs report, set to be released on Friday, will reveal a net gain of approximately 175,000 jobs. This figure is slightly below the average seen over the past three months. Additionally, it is expected that the unemployment rate will remain steady at 4.1%, according to estimates from FactSet.
The Federal Reserve is not projected to initiate any rate cuts until at least September. However, the insights provided by Friday's jobs report will be crucial in determining whether the labor market possesses the necessary strength to maintain its current momentum.
