Investors have put the likelihood of a Fed rate cut in September at about 76%, according to CME FedWatch
Rising unemployment for Canada, U.S. gives central banks reason to ease
The result was the highest reading for the unemployment rate since January 2022
Employers added 206,000 jobs in a sign of continued economic strength
Continuing claims rise for ninth straight week
The U.S. economy, job market have been resilient in the face of the Fed's campaign to raise interest rates to rein in inflation
Moderate price growth is forecast, and arrears is expected to rise slightly
Weaker labour market, still-high interest rates and dwindling savings to crimp consumer spending
Range of possible futures depends on immigration levels
Despite initial cut, monetary policy remains restrictive, and economy faces other headwinds