Fed Chair Jerome Powell couldn't have asked for a better jobs report, adviser says

April jobs data came out weaker than expected, with the U.S. economy adding 175,000 jobs, falling short of projections. Although the report appeared to disappoint, the Federal Reserve had been actively seeking a cooling in the labor market to support its efforts in taming inflation. To analyze the implications of this data, JPMorgan Private Bank Head of Specialized Strategies Steve Parker joins Catalysts.
"I don't think Fed Chair Powell could've asked for anything better than what we got today," Parker states. He highlights the decelerating wage growth, the moderating labor market conditions, and the abating inflationary pressures as positive signs aligning with the Fed's goals.
Despite the jobs number missing estimates, Parker acknowledges that it still represented a "pretty healthy" level of job creation. Furthermore, he emphasizes that when considering the broader labor market data over the past couple of months, the evidence continues to point to "a very strong labor market," with the slowdown primarily concentrated within government hiring sectors.
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[@arrinletourneau]

The job market added jobs but will employers actually hire? Likely not.

[@rosemarysunshine1744]

Does his mom STILL cook for him?

[@invisiblesun6595]

Irrelevant in the long run. Higher for longer is the new normal people, deal with it.

[@rawcircoking]

Small caps!!