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headmetax
That’s a meaningful labor-market signal.
Only 29K jobs added versus roughly 85K expected, unemployment rising to 4.2%, and prior months being revised lower all point to a noticeable cooling in hiring momentum.
Wage growth at 3.0% YoY also suggests the labor market is losing some heat.
The bigger market question now is how policymakers interpret the combination of slower employment growth, rising unemployment, and moderating wages.
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