Hurricane Beryl could lead to slower US non-farm payroll growth in July: BNP Paribas analysts

A slowdown in US non-farm payroll growth in July could be largely attributed to Hurricane Beryl, said Yelena Shulyatyeva, an analyst at Farabas Bank. She expects job growth to slow to 165,000 from 206,000 in June, with about 30,000 of those affected by Beryl.

Shulyatyeva expects the U.S. unemployment rate to hold steady at 4.1 per cent, but any rise could raise concerns about a recession or a rapid rise in unemployment in the coming months.