May Jobs Report Shows Resilient Labor Market Despite Economic Headwinds
Keith Buchanan, senior portfolio manager at Globalt Investments, joined Cheddar News to assess the steady increase of stock prices amid the May jobs report. The Labor Department reported that job growth spiked last month, which points to a strengthening market even despite economic headwinds.
The U.S. added 142,000 jobs in August, below expectations. The unemployment rate fell to 4.2%. The cooling job market raises chances for an interest rate cut.
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