JPMorgan Chase CEO Jamie Dimon has expressed concerns about the U.S. economy, following a significant revision in the Labor Department’s job data.
Slowing Economy, Low Consumer Confidence, Says Dimon
Dimon, in a statement on Tuesday, pointed out that the U.S. economy is showing signs of “slowing down,” reported CNBC. This insight followed the Labor Department’s revision of nonfarm payrolls data through March 2025, which reduced the job count by 911,000 compared to earlier estimates. The adjustment aligned with Wall Street’s expectations and represented the largest revision in more than 20 years.
“I think the economy is weakening,” Dimon stated. “Whether it’s on the way to recession or just weakening, I don’t know,” stated the JPMorgan CEO.
Dimon, who has access to a wide range of data on consumers, corporations, and global trade, noted that while most consumers still have jobs and are spending money, their confidence may have been affected. He also highlighted the …