U.S. Employers Add 172,000 Jobs in July

U.S. employers added 172,000 jobs in the month covered by the latest Bureau of Labor Statistics report, released Friday, compared with the 80,000 positions forecast by Dow Jones economists. Leisure and hospitality accounted for 70,000 of the new positions.

Local government employment rose by 55,000, health care by 35,000 and social assistance by 12,000. 3 percent in April. 3 percent to 52 percent in the days after the report.

The same platform lifted the chance of a rate increase before July 2027 from 54 percent to 65 percent. The CME FedWatch tool showed roughly a 50 percent probability of a higher policy rate by year-end. Former Federal Reserve Vice Chairman Roger Ferguson said on CNBC's Squawk Box that a rate increase this year remains possible.

"I think there actually could be one this year, and for good reason. Inflation is pretty sticky," he said. Lindsay Rosner, head of multi-sector fixed-income investing at Goldman Sachs Asset Management, wrote that officials should hold rates steady for now, citing growing confidence that the labor market does not require immediate tightening.

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