Payrolls Headline Miss May not Signal a Weak Labor Market
Dow Jones
Yesterday
0917 ET - U.S. payroll gains missed expectations in September, but economists say the economy doesn't need to add as many jobs as it once did to keep the labor market stable. The labor market will continue to have soft numbers from time to time because of two constraints on labor supply: demographics and tight immigration policy, said Joe Brusuelas, chief economist at RSM. "We need to generate 35,000 jobs a month to keep the American labor market stable. So, if we're adding 29,000, that's in line with that," Brusuelas tells WSJ. Going forward, we should continue to expect job gains in that monthly range of around 50,000, he adds.
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.