Fed Focus Shifts to Jobs Amid Renewed US Labour Weakness, ABN AMRO Says
ABN AMRO's chief economist highlights declining Nonfarm Payrolls and soft household employment data, noting a drop in labour force participation that pushed the unemployment rate lower.
USD
Renewed weakness in the U.S. labour market is shifting the Federal Reserve's attention toward employment, according to ABN AMRO Chief Economist Nick Kounis.
Nonfarm Payrolls have declined, and household employment data are softening, pointing to a cooling labour market.
The unemployment rate edged lower, but only because labour force participation dropped to multi-decade lows – a sign of cyclical weakness that could weigh on the economic outlook.
Source: FXStreet Forex News