Labor market signals slowdown, looming inflation
The Bureau of Labor and Statistics announced that 139,000 jobs have been added to the U.S. labor market, a decline from April’s jobs additions.
The slowing labor market came as unemployment rates have remained at a stable 4.2%, three major stocks indexes have gained about 1% and U.S. government borrowing costs have increased, according to a news report from NBC News. However, the employed-to-total population ratio decreased to just less than 60%, reflecting future uncertainty and a loss of hiring momentum in the labor market.
Experts cited in the article detailed that the federal employment has dropped by about 59,000 over the past five months. Further, data from the U.S. Department of Labor demonstrated an increase in unemployment claims. The experts indicated that the signs of an employment slowdown are evident and that inflation caused by the introduction of tariffs may still be forthcoming. Rising prices could result in reduced economic activity, less subsequent hiring and more layoffs.
Read more: NBC News
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