WASHINGTON: US Federal Reserve Chair Jerome Powell warned Tuesday (Oct 14) that risks to employment had risen in recent months, noting there had been a sharp slowdown of job creation in the world’s leading economy.
“While the unemployment rate remained low through August, payroll gains have slowed sharply, likely in part due to a decline in labor force growth due to lower immigration and labor force participation,” he told a conference in Philadelphia.
Economic growth appears to be holding up well, he added.