Although the July jobs report showed that wages rose once again, the slowest pace of hiring since late 2020 and downward revisions to the prior two month's payrolls figures likely keeps the Federal Reserve on track to leave interest rates unchanged at the next Fed meeting, experts say.
Nonfarm payrolls expanded by 187,000 last month, the Bureau of Labor Statistics said Friday, missing economists' forecast for the creation of 200,000 jobs. Adding to the evidence of an economy that's cooling, payroll figures for June were revised down to 185,000 from 209,000 new hires, while May's jobs numbers were cut to 281,000 from 306,000.
