Stagflation jitters grow after steepest jobs downgrade in decades
The labor market is not as strong as it initially appeared.
A massive government revision released Tuesday showed the US economy added 911,000 fewer jobs in the 12 months through March 2025 than initially reported — the steepest downgrade in at least two decades, according to preliminary estimates from the Bureau of Labor Statistics.
The weaker data added to expectations of Federal Reserve rate cuts and fueled concerns that the bull market could be nearing an inflection point if inflation remains sticky.
JPMorgan Chase CEO Jamie Dimon said the revisions confirmed the economy is slowing: "I think the economy is weakening," he told CNBC on Tuesday. "Whether it's on the way to recession or just weakening, I don't know."
https://finance.yahoo.com/news/stagflation-jitters-grow-after-steepest-jobs-downgrade-in-decades-181031244.html
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