The probability that the Federal Reserve System will cut interest rates has increased dramatically

There are signs that the US labor market is slowing down and may even deteriorate, so the June Non-Farm Payroll Report is even more significant. The June non-farm payrolls report will be released at 08:30 EST on Friday. Economists expect 0.2 million new jobs, down from 0.272 million in May. Up to now, the total number of new jobs added in 2024 is 1.24 million, a decrease of about 0.05 million per month compared to the same period last year. From a historical perspective, employment growth has remained steady. However, there are signs that the employment situation may be weakening, and it may indicate a significant increase in the probability that the Federal Reserve System (Federal Reserve System) will cut interest rates in the future.