US jobs market cooling but still resilient, Fed’s Kugler says | News.az

The U.S. jobs market has started to cool but remains resilient and the Federal Reserve is keen to avoid a drastic weakening of the labor market, Fed Governor Adriana Kugler said in Frankfurt on Tuesday, News.Az reports citing Investing ..

“The lower unemployment that we saw in Friday’s jobs report is very welcome,” Kugler told a European Central Bank Conference. “We don’t want a drastic slowdown in the labor market.”

Kugler said there were several metrics suggesting that the labor market was cooling back to its pre-pandemic levels but the Fed does not want it to cool so much that it causes “undue” pain.

News.Az