Will the US employment statistics and the revised figure of 0.818 million people affect the decision to lower interest rates before September?

September 1, 2024, 18:40 JST
The preliminary figure for the annual number of employed persons until March 2024 has been revised downward to 0.818 million 8000 people.
There is a possibility that the authorities hesitate to accept the initial figures at face value.

At the Federal Open Market Committee (FOMC) meeting on September 17th and 18th, a rate cut decision is widely expected. However, upcoming indicators on the labor market, such as the August employment statistics, will provide insights to policymakers on the need for additional rate cuts.
Federal Reserve Chairman Powell hinted at a rate cut in September during his speech at the Jackson Hole Symposium (an annual symposium hosted by the Kansas City Fed) on August 23rd, stating that he neither requests nor welcomes further slowdown in the labor market. The July non-farm payroll figures, released a few weeks earlier, fell below expectations, with the unemployment rate rising for the fourth consecutive month to 4.3%, which is 0.2 percentage points higher than the previous month.