Job Market Takes a Hit: Is This Just a Blip or Here to Stay?

The job market has been on a downward slope lately. Gary Cohn, who used to be a big shot in Trump's economic team and now works at IBM, spoke about this on a Sunday news show. He said the job market has been getting worse, but it might just be a temporary thing. The Federal Reserve, which is like the big boss of money in the U. S. , cut interest rates recently. This is a big deal because it's their way of trying to help the economy when things are slowing down. Jerome Powell, the head of the Federal Reserve, said the job market is cooling off. He didn't want to make a big fuss about job numbers, but he did say they're not looking too good. Recently, the numbers showing how many jobs are being created have been under a lot of scrutiny. Even the president has questioned if the numbers are accurate. Last month, the person in charge of these numbers was fired after a not-so-great jobs report. Cohn pointed out that job creation has dropped from over 100, 000 jobs a month to less than 50, 000. He said companies are cutting back on employees because it's getting tough out there. With costs going up because of tariffs and other stuff, companies can't just raise prices. So, they're cutting jobs to keep their profits up. Cohn said this isn't just happening in tech. It's happening everywhere. He's heard from big company bosses that they're cutting back on their workforce. He also said the Federal Reserve noticed this and did something about it by cutting interest rates. Cohn thinks the Federal Reserve did a good job. They looked at all the data and made a decision based on what's happening in the economy. He said they showed they're independent and not just doing what others want.