Home HomeSwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Fewer new jobs than expected in the USA

» Updated: 31 July 2024, 16:07

» Published: 31 July 2024

Fewer new jobs than expected in the USA
Photo: Mary Altaffer/AP/TT

122,000 new jobs were created in the private sector in the USA in July, according to monthly statistics from payroll administrator ADP.

This was far below expectations and can be compared to the revised 155,000 new jobs in the sector in June.

The average forecast among analysts was 150,000 new jobs in July, according to news agency Bloomberg's compilation of forecasts.

The figure implies the lowest number of new jobs in the sector since January and yet another sign of decreased demand for labor.

The report is being released ahead of Wednesday evening's American interest rate decision. The central bank, Federal Reserve (Fed), is expected to signal that the first interest rate cut will come in September.

A cooler labor market is something the Fed is looking for to start cutting interest rates.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Major Banks Agree: A Double Rate Cut is Coming
1 MIN READ

Major Banks Agree: A Double Rate Cut is Coming

Industry disappoints – "It didn't get better"
1 MIN READ

Industry disappoints – "It didn't get better"

Widespread trade pessimism: "Not a bright prognosis"
1 MIN READ

Widespread trade pessimism: "Not a bright prognosis"

Halved profit for Fortum
1 MIN READ

Halved profit for Fortum

The fuel price is lowered – below 17 kronor
1 MIN READ

The fuel price is lowered – below 17 kronor

SBAB lowers variable interest rate
1 MIN READ

SBAB lowers variable interest rate

Swedish economy loses momentum.
1 MIN READ

Swedish economy loses momentum.

The Stockholm Stock Exchange Continues Upwards
1 MIN READ

The Stockholm Stock Exchange Continues Upwards

Tech Giants' Reports - "a Nail-Biter"
3 MIN READ

Tech Giants' Reports - "a Nail-Biter"

Upwards in Tokyo and Hong Kong
1 MIN READ

Upwards in Tokyo and Hong Kong

Halloween – a billion-dollar industry
1 MIN READ

Halloween – a billion-dollar industry

Upward trend on the US stock exchange
1 MIN READ

Upward trend on the US stock exchange

Rescue Package Within Reach
1 MIN READ

Rescue Package Within Reach

Crisis-stricken Boeing needs 200 billion kronor
1 MIN READ

Crisis-stricken Boeing needs 200 billion kronor

The Trade Union: Volkswagen Wants to Close Several Factories
1 MIN READ

The Trade Union: Volkswagen Wants to Close Several Factories

Bank opens up for investments in nuclear weapons companies
1 MIN READ

Bank opens up for investments in nuclear weapons companies

Cooperation between Volvo and Daimler finalized
1 MIN READ

Cooperation between Volvo and Daimler finalized

The Pension Authority breached risk control regulations
1 MIN READ

The Pension Authority breached risk control regulations

Full speed in the factory – but order intake is plummeting
3 MIN READ

Full speed in the factory – but order intake is plummeting

Philips pressured by decreased demand
1 MIN READ

Philips pressured by decreased demand