Today’s job numbers could have been worse, and most economists expected them to be. But the labor market is losing its shine, and policymakers should take note. The president certainly has.
The Bureau of Labor Statistics announced the creation of 139,000 jobs in May, and the unemployment rate stayed steady at 4.2%. But the last few months of figures show slower jobs growth than we saw through much of the Biden administration. Stocks jumped on the news.
