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June Unemployment Rate Worth Waiting For
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The overseas focus remains on when the Fed will stop raising interest rates and when to start rate cuts. Actually, Fed officials have stressed several times that it will depend on inflation, employment, and other data. The May non-farm payrolls released last week were substantially better than expected, which gave the market more hope for a July rate hike. However, the market may have overlooked the unemployment rate which already rose to 3.7% in May. It was a departure from the non-farm payrolls. Does it mean that the jobs in institutions are increasing but people's employment intentions are declining?
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