U.S. employment data in June may be distorted by temporary hirings related to the FIFA World Cup, Barclays Private Bank and Wealth Management's Julien Lafargue says in a note. "The data may also be distorted as hiring linked to the FIFA World Cup may have temporarily boosted employment in sectors such as leisure and hospitality during the survey period," the chief market strategist says. Markets are likely to place greater weight on the June CPI report on July 14, as inflation data will offer a cleaner read on the economy, he says. Analysts in The Wall Street Journal's poll forecast the addition of 115,000 jobs in June, a slowdown from 172,000 in the previous month. (emese.bartha@wsj.com)
Dow Jones Newswires
FIFA World Cup Hirings Might Distort U.S. Employment Data — Market Talk
U.S. employment data in June may be distorted by temporary hirings related to the FIFA World Cup, Barclays Private Bank and Wealth Management's Julien Lafargue says in a note. "The data may also be distorted as hiring linked to the FIFA World Cup may have temporarily boosted employment in sectors s…