- Consumer prices jumped 5.4% in July but came in slightly lower than economists expected. Inflation and any expectation of its continuance put upward pressure on rates.
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- Payrolls increased 943,000 in July as the unemployment rate dropped to 5.4%. Job gains came fastest in leisure and hospitality, followed by professional and business services.
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- Unemployment claims dropped for the 3rd week in a row last week to 375,000, demonstrating labor market improvements due to increased economic activity.
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