Key Takeaways
- Economists expect 190,000 jobs were created in June.
- The economy enters the second half of the year with slowing growth and inflation.
As we move into the second half of the year, the U.S. economy and markets are in a markedly different position compared to the start of the year.
In the week shortened by the July 4 holiday, a wealth of data will emerge, offering valuable insights into the trajectory of the remainder of 2024. Early indicators suggest that the housing market is stagnating, consumers are becoming more cautious with their spending, and the labor market is shifting towards a more balanced state.
A significant focus will be on the job market, beginning with the Labor Department’s report on May job openings scheduled for Tuesday. Expectations are that the figure will fall below 8 million, landing around 7.9 million.