U.S. Fed’s Cook calls July jobs data "concerning" amid hiring slowdown

Federal Reserve Governor Lisa Cook expressed concern about the moderation in hiring pace shown in the July employment data released Friday, News.Az reports citing CNBC.

Speaking at an event hosted by the Federal Reserve Bank of Boston on Wednesday, Cook described the recent jobs report as "concerning" due to the slowdown in hiring momentum.

Cook noted that substantial revisions to employment figures, like those seen in the July report, "are somewhat typical of turning points" in the economy. Her comments come as policymakers evaluate labor market conditions as part of their broader economic assessment.

The Fed governor’s remarks highlight the central bank’s attention to employment trends as it considers its monetary policy direction.

News.Az