As the Federal Reserve aims to curb inflation by maintaining higher interest rates, it remains committed to supporting a robust labor market and keeping unemployment levels low. The recent job gains, led by sectors like government and healthcare, could be concealing overall weaker private sector hiring trends.
Economist Kathy Bostjancic notes that there is a visible slowdown in labor demand and hiring, aligning with the Federal Reserve's desired trajectory. She suggests that the current scenario is in line with the central bank's objectives, indicating a crucial juncture in the economic landscape.
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