Will the rate cut be delayed again? U.S. Non-Farm Payrolls Surprise to the Downside

In February, ADP reported 63,000 new jobs added, far exceeding expectations. On the surface, everything looks great, and the Fed has a perfect excuse not to cut rates in March😭 However, there are still three facts to remind everyone:
Total employment relies heavily on healthcare, education, and construction. White-collar jobs that everyone cares about have directly lost 30,000 positions, and even the manufacturing sector, which Trump strongly supported, continues to lay off workers.
Data shows that the wage growth of job switchers has fallen to a historic low! The era of big salary jumps from switching jobs is over. Now, changing jobs might only bring shock, so it’s recommended for workers to stay put and endure.
Steady employment + high inflation + rising geopolitical oil prices, Wall Street believes the earliest rate cut could be in July. High interest rates will need to be endured further.
Friday’s non-farm payrolls are about to be announced. Let’s see how the U.S. Labor Department presents it!