720,000 Americans Stopped Looking for Work
About this episode
Kenny Simpson discusses the implications of the latest jobs report on the economy and interest rates.
The latest jobs report may be one of the most important of the year. While unemployment appeared to improve, the underlying numbers tell a very different story. In this week's Brief, Kenny Simpson explains why this report could change the conversation around interest rates and the economy. In this episode, we cover: • Why only 57,000 jobs were added • Why 720,000 Americans stopped looking for work • Downward revisions to April and May employment data • Hospitality job losses • Labor force participation trends • Why the Federal Reserve may shift toward rate cuts • What this means for mortgage rates and the housing market If you're watching mortgage rates, the economy, or the housing market, this is one jobs report you shouldn't ignore.
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