Tech sector responsible for nearly a third of July job-cut plans, Challenger data shows

Macro
โดย Bloomberg·US·Read original
Summary · why it matters

Friday's jobs report will shed light on the state of the labor market, with the federal government's payroll figures for July expected to show an improvement from the month prior. Economists surveyed by Bloomberg predict the jobless rate stayed flat at 4.2% and expect the economy to add 80,000 jobs, which would be better than June's 57,000 new roles but still mark a slowdown from earlier this year. ADP data showed private employers added fewer positions than expected in July, though annual pay gains for job-switchers were strong without raising inflation concerns. Job openings in June roughly matched expectations at 7.4 million, while Challenger, Gray & Christmas reported that hiring plans improved in July and layoff announcements fell, with the tech sector responsible for nearly a third of job-cut plans.

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