JPMorgan Sees Economic Slowdown Spreading Despite Strong Job Numbers
JPMorgan Chase is warning that the U.S. economy is gradually slowing, despite strong headline job growth in May.
Chief global strategist David Kelly highlights that while 139,000 jobs were added and unemployment held at 4.2%, deeper data reveals concern. Revisions cut 95,000 jobs from March and April, and the Household Survey showed over 600,000 jobs lost in May. Average monthly job gains for 2024 have dropped to 124,000, down from 168,000 last year.
PNC Bank adds that the labor force shrank by 625,000 in May, suggesting growing worker discouragement amid the slowdown.
Clever Robot News Desk 9th June 2025
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