May jobs reports signals Fed's soft landing: US Labor Secretary

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Jennifer Schonberger News

Unemployment Rate,Julie Su,Federal Reserve

The US added 272,000 jobs in May, a hotter-than-expected figure. Acting Labor Secretary Julie Su joins Yahoo Finance's Jennifer Schonberger to discuss the...

to discuss the state of the labor market and what it could indicate for the Federal Reserve's next interest rate decision.

272,000 jobs created last month and the unemployment rate is still at or below 4% for the longest stretch since the 19 sixties were 30 months straight now.Certainly not as quickly as we got there and not for as long of a time. And so there's just it's just overall such a strong, steady, stable, you know, continued growth that I think this is certainly the coveted soft landing that many people said wouldn't happen.It happens because of steady leadership and that is what you know, President Biden's economic agenda has always been about this broad based growth, investing in America, creating more good jobs, creating more opportunity.So you think we are here, we have gotten this off landing.

And to really highlight that this is fundamental to the president's vision of how we build a strong economy and strong communities. Tom Hanks says former President Trump winning a second term in the White House could indicate that America’s “journey to a more perfect union has missteps in it.

 

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