Jobs
Here’s What Economists Are Saying About the US Jobs Report
- Wage growth shows inflation still risk for Fed, Summers says
- Some economists remain cautious, say labor market is cooling
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Former Treasury Secretary Lawrence Summers said that he’s still concerned about inflation picking up after wage growth was more than expected in July.
His comments on Bloomberg Television’s Wall Street Week with David Westin came after the US payrolls report Friday showed job gains slowed to 187,000 in July and the prior two months were revised down. At the same time, wages rose more than expected from the prior year, up 4.4%.