Barclays: FIFA World Cup Hiring May Distort U.S. Employment Data

According to a report by Golden Finance on July 2, Julien Lafargue of Barclays Private Bank and Wealth Management stated in a report that U.S. June employment data might be distorted due to temporary hiring related to the FIFA World Cup. The Chief Market Strategist said: "The data may also be skewed as hiring related to the FIFA World Cup could temporarily boost employment in sectors such as leisure and hospitality during the survey period." He noted that the market might place greater emphasis on the June CPI report to be released on July 14, as inflation data will provide a clearer interpretation of the country's economy. Analysts expect 115,000 new jobs to be added in June, a slowdown compared to 172,000 in the previous month.