June Jobs Report Could Affect Prime Rate

The June Jobs Report numbers show the U.S. added only 57,000 jobs last month, falling short of expectations. Hourly earnings grew by 3.5% but trail the rate of inflation that is 4.2%. Fox News’ Edward Lawrence has more on what could happen…

“Now an interest rate cut could be coming out of the mouths of the Federal Reserve members. The Federal Reserve will likely pause though at the next meeting wanting to see if falling energy prices will be seen in that next inflation report that’s coming up. Now in June manufacturing, they added 3,000 jobs but retail and leisure and hospitality, that lost jobs.”