May jobs report suggests a slowing economy – and possibly an imminent interest rate cut
- Written by Richard Grossman, Professor of Economics, Wesleyan University
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...
Read more: May jobs report suggests a slowing economy – and possibly an imminent interest rate cut