The past week has been a rollercoaster ride for the U.S. economy. From a rare warning sign in the labor market to a surprising jobs report, the week was filled with unexpected turns. The gold market saw a potential rise, while the Federal Reserve faced criticism from President Donald Trump. Amidst all this, the middle class’s struggles were highlighted by a renowned economist.
Here’s a recap of the top stories.
Labor Market Sends Warning Signal
The U.S. labor market is showing a concerning sign as private sector payrolls fell in June for the first time in over two years. This has raised concerns about the economy’s health and increased speculation about Federal Reserve interest rate cuts. Private employers cut 33,000 jobs last month, according to the ADP National Employment Report.
JPMorgan’s …