Fed Chair Jerome Powell said that Fed staffers believe federal data could be overstating job creation by up to 60,000 jobs a month—which suggests the jobs market might be shrinking

Core Insights - The Federal Reserve staff believes that federal data may be overstating job creation by as much as 60,000 jobs per month, indicating a potential contraction in the job market [1] Group 1 - The implication of the overstatement suggests that the job market might be shrinking, which could have broader economic consequences [1]