financetom
Economy
financetom
/
Economy
/
Breakneck US job growth was bound to slow down, Biden adviser says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Breakneck US job growth was bound to slow down, Biden adviser says
Sep 6, 2024 1:06 PM

WASHINGTON (Reuters) - U.S. job growth had been moving at breakneck speed and it was bound to slow down, White House economic adviser Jared Bernstein said on Friday after U.S. employment figures increased less than expected in August.

"No question, that's a slower pace of job gains than we saw, but we were sustaining a breakneck pace that we knew was going to slow down," Bernstein said in an interview with MSNBC.

"I think the operative question here is, are we generating enough jobs to give people ample opportunities in the labor market to keep the unemployment rate from going up and to especially maintain those solid wage gains?"

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Oil Rig Count Flat This Week, Baker Hughes Data Show
Oil Rig Count Flat This Week, Baker Hughes Data Show
Sep 6, 2024
03:41 PM EDT, 09/06/2024 (MT Newswires) -- The number of oil rigs in the US were unchanged at 483 for the week ended Friday, according to data compiled by energy services company Baker Hughes ( BKR ) . The tally for gas fell by one to 94 on a weekly basis, while miscellaneous rigs were unchanged at five. A year...
US private payrolls post smallest increase in 3-1/2 years in August
US private payrolls post smallest increase in 3-1/2 years in August
Sep 6, 2024
WASHINGTON (Reuters) - U.S. private employers hired the fewest number of workers in 3-1/2-years in August and data for the prior month was revised lower, potentially hinting at a sharp labor market slowdown. Private payrolls increased by 99,000 jobs this month, the smallest gain since January 2021, after rising by a downwardly revised 111,000 in July, the ADP National Employment...
Fed Rate Cut of 0.5% 'Wouldn't Be A Surprise' After Private Payrolls Fall Short, Economist Says
Fed Rate Cut of 0.5% 'Wouldn't Be A Surprise' After Private Payrolls Fall Short, Economist Says
Sep 6, 2024
The August payroll report from ADP Thursday is tipping odds toward a 0.5% rate cut by the Federal Reserve two weeks from now, according to economists. The report said 99,000 jobs were added in August — down from 140,000 expected — and reflects the fifth straight month of slowing private payroll growth. The data could foreshadow a softer-than-expected official payroll...
Breakneck US job growth was bound to slow down, Biden adviser says
Breakneck US job growth was bound to slow down, Biden adviser says
Sep 6, 2024
WASHINGTON (Reuters) - U.S. job growth had been moving at breakneck speed and it was bound to slow down, White House economic adviser Jared Bernstein said on Friday after U.S. employment figures increased less than expected in August. No question, that's a slower pace of job gains than we saw, but we were sustaining a breakneck pace that we knew...
Copyright 2023-2025 - www.financetom.com All Rights Reserved