This post was originally published on this site. US July non-farm payrolls -23K vs +80K expected Canada July employment change +75.1K vs +15K expected Canada and the US discussing tariff relief deal Fed’s Barkin: We are in a zero-to-modest gain jobs environment New York Fed survey: One year inflation expectations dip to 3.6% from 3.7% Baker Hughes US weekly oil rig count: Unchanged at 588 US official says there is progress on Iran-Oman on Strait of Hormuz Markets: Gold up $106 to $4345 US 10-year yields down 2.8 bps to 4.64% WTI crude oil down 42-cents to $76.87 JPY leads,...

This post was originally published on this site.The US labour market debate is divided. Ask consumers and they’ll tell you hiring conditions are the worst since the mid-2010s (ex-pandemic). Ask the initial claims data and you’d conclude companies won’t let anyone go. Today the Fed’s Barkin reiterated that it’s a low-hire, low-fire economy. Zoom out and the pain is concentrated in one place: people trying to get their first real job. National Bank’s Jocelyn Paquet flags it in this week’s Hot Chart. The unemployment rate for recent graduates is running at 5.7% versus 4.1% for all workers. That might not sound...