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Jobs Report Upends Fed’s Next Move | Salt Lake City News
The latest jobs report just dropped—and it’s a shocker: 23,000 jobs lost last month, with another 103,000 shaved off past numbers. That drags the annual average job gain down to just 34,000. While unemployment dipped to 4.1%, it’s mostly because 264,000 people stopped looking for work—pushing labor participation to its lowest since early 2021 and weakest outside the pandemic since the mid-70s. Retail took a brutal hit, losing 19,000 jobs, especially in general merchandise stores. This upends Fed expectations: with inflation still high, they were poised to hike rates again—but now, a weakening…
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