Analyst: Unexpectedly Weak Non-Farm Payrolls Indicate US Economy is in Volatility, Giving the Fed Reasons to Cut Rates

Odaily News Bokeh Capital Partners Chief Investment Officer Kim Forrest stated that the unexpectedly weak non-farm payrolls data indicates the economy is in a state of volatility. We know that large-scale layoffs have already occurred. The difficulty in hiring during the COVID period led companies to retain far more employees than they actually needed, and many positions were essentially unnecessary. The methods we use to measure the economy do not necessarily convey the truly important information. Higher layoff rates and lower labor force participation rates give the Federal Reserve reasons to cut interest rates. (Jin10)