"US non-farm payrolls in June greatly exceeded expectations. Will interest rate cut expectations for July be shattered as a result?"

Zhtng Cijng APP noted that the U.S. employment growth in June exceeded expectations for the fourth consecutive month, with the unemployment rate falling, indicating that despite the economic slowdown, the labor market remains resilient. The U.S. Labor Department report released a day earlier due to the Independence Day holiday on Thursday showed that non-farm payrolls increased by 147,000 last month, significantly higher than the expected 110,000, primarily driven by a surge in employment in state and local governments.