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US Labor Market Shows Growing Softness as Fed Rate Cuts Loom
US Labor Market Shows Growing Softness as Fed Rate Cuts Loom
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BTCCSquare news:
The August jobs report, due Friday from the Bureau of Labor Statistics, is expected to confirm a slowing US labor market. Economists project 75,000 jobs added—barely exceeding July's 73,000—with unemployment rising to 4.3%. The figures follow downward revisions erasing 258,000 prior gains and President Trump's abrupt replacement of the BLS chief.
"Tariff uncertainty, immigration shifts, and AI adoption are compounding labor weakness," notes Comerica Wealth Management's Eric Teal. Paradoxically, softer data may accelerate stimulative Fed rate cuts—a potential tailwind for risk assets. Construction activity, captured in recent Los Angeles housing development imagery, remains a bright spot amid the slowdown.
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