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Fortune

Eva Roytburg

Top economist says latest jobs data shows a 'gut-wrenching’ labor market for the middle class

Diane Swonk ADP Fortune KPMG Economy Nicole Bachaud

middle (Credit: Getty Images)

The U.S. economy is still booming. Layoffs haven’t spiked. The stock market continues to climb. And yet, when a fresh batch of labor market data landed Tuesday, one of the country’s most respected economists said it made her stomach drop.

“It’s gut-wrenching,” Diane Swonk, chief economist at KPMG, told Fortune. “We’re growing, but we can’t generate jobs.”

“Rock bottom” hiring

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