The U.S. May Be Gaining 60,000 Fewer Jobs Every Month Than We Thought

Core Insights - The U.S. job market may be in worse condition than previously thought, with an average loss of 20,000 jobs per month from April to September instead of a gain of 43,000 jobs [1][6] - Federal Reserve Chair Jerome Powell indicated that the economy likely gained around 60,000 fewer jobs each month than earlier reported [1][6] Labor Market Data - The Bureau of Labor Statistics reported a gain of 119,000 jobs in September, but if Powell's estimates are accurate, the actual number could be about half that [2] - The potential downward revision of job growth highlights ongoing concerns regarding the labor market's health [6] Economic Implications - A weaker labor market could negatively impact wages, consumer spending, and overall confidence, influencing expectations for future Federal Reserve rate cuts [3] - Powell's comments suggest a gradual cooling of the labor market, potentially influenced by tariff-related uncertainties and immigration policies [4][5]