More signs of a cooling labor market
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 5 July 2024
⏱️ 9 minutes
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Summary
The U.S. economy added 206,000 jobs in June, according to the labor department. But job growth in previous months was revised down significantly. What can we make of this data? And what does it mean for next steps for the Federal Reserve? Workers also saw the slowest pace of wage growth in two years. And later: views on France’s election and economy from a farmers market in the French city of Lille.
Transcript
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| 0:28.0 | More signs, the labor market is cooling. |
| 0:32.0 | From marketplace, I'm Sabrie Benashore in for David Brancaccio. The US economy added |
| 0:33.7 | 2006,000 jobs in June according to the Labor Department. On the other hand the |
| 0:38.8 | job growth in previous months was revised down significantly. The unemployment rate |
| 0:44.4 | ticked up to 4.1 percent. Karen Petru is co-founder and managing partner at |
| 0:48.9 | federal financial analytics. Anyone who's looked at these numbers knows that one shouldn't bet much on them. |
| 0:56.3 | The April and May jobs numbers were very significantly revised downward, and we really don't know what 2006,000 means because we don't know what |
| 1:06.9 | immigration is doing to the jobs numbers. |
| 1:10.3 | Markets responded right after the jobs report came out. Bond yields fell slightly, equity |
| 1:15.7 | markets rose slightly. What does that mean? Can you decode that for us? |
| 1:20.5 | No, because I don't think it means much. |
| 1:23.0 | It's a little money moving a little bit, but it also could have been people woke up with, you know, |
| 1:30.0 | fireworks smoke in their eyes and nobody expects these data to be epiphenal for the Federal |
| 1:37.0 | Reserve and change anything having to do with what's most likely in September with regard to a rate cut. |
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