AI Data Insight
The latest US Q2 nonfarm payrolls added 172,000 jobs, not only rebounding significantly from the previous 115,000 but also doubling market consensus. Although the unemployment rate held steady at 4.3%, the new growth momentum was highly concentrated in leisure and hospitality and local government, while the financial sector continued to face pressure. This strong data is expected to give the Federal Reserve sufficient confidence to maintain the high-interest-rate status quo and delay rate cuts in the short term.