"The jobs market is slowing down and becoming less tight," said Katie Nixon, chief investment officer at Northern Trust Wealth Management.
Then there are the monthly revisions that have been dramatic at times, causing the Labor Department to overcount hiring by more than 800,000 for the 12-month period through March 2024, adding uncertainty to jobs market analysis.
The Bureau of Labor Statistics will release the report at 8:30 a.m.
Looking for cluesStill, markets will in fact be watching the report closely.
At the same meeting where they approved the reduction, policymakers indicated another half percentage point, or 50 basis points, in cuts before the end of 2024 and another full percentage point in 2025.
Persons:
Angus Mordant, Nonfarm, Dow Jones, Katie Nixon, We've, there's, David Kelly, Helene —, JPMorgan's Kelly, Kelly
Organizations:
Bloomberg, Getty, Federal Reserve, Trust Wealth Management, Labor Department, Asset Management, Labor Statistics
Locations:
Albany, Latham , New York