TechFlow, on June 6, according to Jinshi Data, Nick Timiraos, known as the "Fed whisperer," wrote that Fed officials said they may focus more on the unemployment rate rather than job growth when assessing whether labor demand is slowing. The reason is that they expect job growth to naturally slow as tighter border controls reduce the number of people available to work. When job growth slows while the unemployment rate remains stable, it could indicate that labor supply is declining faster than labor demand. The Fed's bottom line is: as long as the unemployment rate stays at its current level, the Fed will not necessarily be concerned about slowing job growth.
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