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The Conversation USA

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

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