The slowdown in the growth of non-farm payrolls in the United States provides a reason for the Federal Reserve to start cutting interest rates

U.S. hiring slowed in June and data from previous months were also revised down, strengthening the likelihood that the Federal Reserve will initiate a rate cut in the coming months. Data released by the Bureau of Labor Statistics on Friday showed that non-farm payrolls rose by 206,000 last month, compared with a 111,000 downward revision in the previous two months. Economists surveyed predicted a median increase of 190,000. The unemployment rate rose to 4.1 percent and average hourly wage growth also cooled.