US economy adds fewer jobs than expected
A U.S. government report states that the U.S. economy created approximately 79,000 fewer jobs over the twelve months ending in March than previously estimated. Meanwhile, the economic growth rate slowed to 1.5% in the second quarter despite strong consumer spending. This comes amid expectations that the Federal Reserve may raise interest rates if inflation does not return to its 2% target, with officials emphasizing the need for measures to combat inflation and warning that the labor market may slow down due to advances in artificial intelligence technology and steps by Trump to restrict immigration.
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