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US jobs data changes Warsh's game
US job growth slowed in June with 57,000 jobs added, half of economists' expectations, complicating the Federal Reserve's interest rate decisions. Fed Chair Kevin Warsh emphasized controlling inflation over addressing the weakening jobs market, while AI's impact on hiring and economic growth adds complexity to policy-making.
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- US hiring slows in what economists are calling a ‘low-momentum’ labor market
- US employers added just 57,000 new jobs in June, lower than expected
- US employers pull back on hiring in June amid elevated inflation, global turmoil
- Strong jobs data complicates Warsh’s path to lower rates
- Economy disappoints with half as many jobs created in June, and May and April gains revised downward
- US economy adds jobs at slower pace with 57,000 jobs added in June, unemployment rate dips