The New Jobs Report Might Mean an Interest Rate Cut: What You Need to Know

Richard Grossman
Reuters

Richard Grossman

Economics, Americas

A slowing economy?

The New Jobs Report Might Mean an Interest Rate Cut: What You Need to Know

The latest jobs data suggests an interest rate cut may be imminent.

The Labor Department reported on June 7 that U.S. nonfarm payroll employment increased by 75,000 in May, while the unemployment rate remained unchanged at 3.6%. This level of job creation was well below economists’ forecasts of about 185,000 new jobs, as well as below the average monthly increase of 164,000 in 2019 and 223,000 in 2018.

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