Non farm data validates reasons for Waller and Baumann's interest rate cuts: signs of labor market weakness

According to Jin Shi, the US labor data supported the call for monetary easing, and the yield of US treasury bond bonds fell along with the US dollar. The yield of 10-year treasury bond is 4.295%, and the yield of two-year treasury bond is 3.801%. In July, the number of job opportunities in the United States increased by only 73000. The unemployment rate rose slightly from 4.1% to 4.2%. At the same time, previous data has been significantly revised down: the number of new jobs added in May decreased from 144000 to 19000, and the number of new jobs added in June decreased from 147000 to 14000. Prior to the release of the employment report, Federal Reserve Board members Waller and Baumann, who held different opinions, stated that there were signs of weakness in the labor market. Affected by employment data, it plummeted.