WH National Economic Council Director Kevin Hassett blames Biden policies for 'weak' jobs report
February 7, 2025
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2:27Now PlayingWH National Economic Council Director Kevin Hassett blames Biden policies for 'weak' jobs report
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as posted by the channelWhite House National Economic Council Director Kevin Hassett blames former President Joe Biden's policies for 'weak' jobs report.
US employers added 143,000 jobs in January and the unemployment rate dipped slightly, according to the Labor Department — signs that the labor market is slowing but still looks to be on solid footing.
The headline number fell short of the 169,000 jobs economists had expected, according to a Wall Street Journal survey. The unemployment rate, however, ticked down to 4% — the lowest monthly rate since May — versus expectations it would remain flat with 4.1% a month earlier.
The slower pace is likely not drastic enough to push the Federal Reserve, led by Chairman Jerome Powell, to cut rates, with economists believing the Fed would first need to see consistent growth below 100,000 jobs and a rise in unemployment.
“We would need to see multiple weaker jobs reports in a row in order for the Fed to cut interest rates sooner,” Glen Smith, chief investment officer at GDS Wealth Management, said in a note.
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#economy #jobs
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