According to CoinMeta, the latest data from the U.S. ADP employment report shows that only 44,000 new jobs were created in July, which is lower than market expectations and indicates a slowdown in hiring momentum. This is the lowest level since the beginning of this year. Despite the slowdown in hiring growth, the report notes that the wage growth rate for employees changing jobs has risen to its highest level in nearly a year. With strong support from both corporate and consumer demand, the U.S. labor market remains stable. If Friday's non-farm payroll report confirms this trend, recent employment trends will mean that Federal Reserve officials still need to pay attention to the high inflation issue.