Philip Jefferson, Fed Vice Chair "Clear Signs of Labor Market Weakening"

Philip Jefferson, Vice Chair of the U.S. Federal Reserve (Fed), said the labor market is gradually slowing and could face larger job losses or upward pressure on the unemployment rate.

On the 3rd (local time), Bloomberg reported that Vice Chair Jefferson said, "Various indicators indicate a slowdown in the labor market," and "this poses a risk of leading to job losses and higher unemployment in the future."