Jobs Report is Still Bad News Despite Eased Rate Expectations
Dow Jones
Yesterday
1105 ET - Today's weaker-than-expected jobs report is bad news for the economy, even if it does lower the odds that the Fed will raise rates this month, eToro's Bret Kenwell says in a note. Lower rates may support markets in the near term, but a meaningful deterioration in hiring and income eventually pressures consumer spending and economic growth, he says. Inflation is still a problem, but a breakdown in the labor market would create an entirely different problem, Kenwell says. "Hoping for a weaker labor market just to secure easier financial conditions is a poor tradeoff," he says.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.