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Non-agricultural data confirms Waller and Bowman's reasons for cutting interest rates: signs of weakness in the labor market "

Internet reported that U.S. labor data supported calls for monetary easing, and U.S. Treasury yields fell together with the U.S. dollar. The yield on the 10-year treasury bond was 4.295%, and the yield on the 2-year treasury bond was 3.801%. U.S. jobs added only 73,000 in July. Unemployment rose slightly to 4.2% from 4.1%. At the same time, previous data have been significantly lowered: the number of new jobs in May was lowered to 19,000 from 144,000, and the number of new jobs in June was lowered to 14,000 from 147,000. Before the employment report was released, dissenting Fed governors Waller and Bowman said there were signs of weakness in the labor market.

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