- U.S. payrolls grew by just 73,000 last month, well below forecasts, but downward revisions to prior months stunned Wall Street even more, showing that the labor market was much weaker over the spring. That may prompt the Federal Reserve to lower rates sooner rather than later, which President Donald Trump has been demanding for months.
The U.S. labor market looks much weaker than previously thought, and Wall Street now expects the Federal Reserve to resume rate cuts sooner rather than later.
