Economic Slowdown Insidiously Expanding Throughout U.S., Despite Job Growth Exceeding Forecasts According to JPMorgan
Let's dive into the economic landscape as interpreted by financial heavyweight JPMorgan Chase!
In its latest assessment, JPMorgan gloomily predicts a sluggish U.S. economy, with slow growth and recession risks lurking unchecked. While the headlines remain bullish, David Kelly, the bank's chief global strategist, claims the underlying data paints a different picture.
For instance, despite beating expectations by adding 139,000 jobs in May and maintaining a 4.2% unemployment rate, data reveals that the job market is indeed weakening. The Labor Department has revised down job gains in March and April, and several hundred thousand jobs were lost last month.
"This was a lot softer than the headlines suggested. To me, the one issue is that we saw over 600,000 jobs lost according to the Household Survey. That's very volatile, but that was a negative signal.
The other thing is cutting 95,000 [jobs] out of the prior two months.
So we've only averaged 124,000 jobs so far this year, per month, for the first five months of the year. It was 168,000 last year.
When I'm looking at a lot of data, this slowdown is gradually seeping up and spreading across the economy. I think we're missing it because we're looking at headline payroll numbers or the weirdness in terms of trade and GDP. But this economy is gradually slowing down here."
Echoing these sentiments, data from the Pennsylvania-based lender PNC Bank shows that the number of adults working or actively seeking employment dropped by 625,000 in May. This decrease may indicate a chilling wave of job dissatisfaction, with potential workers abandoning their search for employment.
So, brace yourself, folks! While the economy may seem upbeat, keep a close eye on those under-the-hood indicators for a clearer picture.
Want to stay updated on the latest industry happenings? Follow us on X, Facebook, and Telegram, and don't miss a beat with email alerts delivered right to your inbox! And don't forget to check Price Action and The Daily Hodl Mix for all the scoop!
Industry Announcements🌐 FIFA Rivals Goes Global, Bringing Non-Simulation Arcade Football Action to Mobile Devices🌐 Polemos Announces TGE and Strategic Partnership with BUFF Boosting Web 3.0 Adoption🌐 Bitpanda Joins Web 3.0 with Vision (VSN)🌐 tBTC Launches on Starknet Expanding Bitcoin's DeFi Role🌐 Allnodes Launches Bare-Metal Servers for Solana Validators and Builders🚀 Falcon Finance Integrates Custody with BitGo Boosting USDf Synthetic Dollar Adoption💼 Interactive Strength Enters $500 Million Facility To Acquire AI-Focused FET Tokens and Launch Crypto Treasury Asset Strategy
Stay tuned for more Daily Hodl insider news! Categories we cover include:
Bitcoin • Ethereum • Trading •Altcoins • Futuremash • Financeflux •Blockchain • Regulators • Scams, Hacks & Breaches •HodlX • Press Releases
© 2025 The Daily Hodl
Need more financial insights? Our expert analysts have you covered!🚀 Michael Saylor Doubles Down on Bitcoin Price Prediction as BTC Holds $100,000 Level💰 Capital One Faces Lawsuit Alleging Bank Steals Commissions from Shopping Browser Extension💯 Analyst Unveils New All-Time High Price Target for Bitcoin This Month, Predicts New Crypto Bubble💰 Wells Fargo Customer Loses $61,000 in Fake Virus, Fake Apple Care, and Bank Fraud Department Scam
- Despite the bullish headlines about the U.S. economy, JPMorgan and PNC Bank's data suggest a slowdown, highlighting the importance of monitoring underlying indicators like job market trends and cryptocurrency markets.
- As worldwide financial institutions deliberate on the economic landscape, it's crucial for investors to stay updated on the latest happenings in Bitcoin, Ethereum, Altcoins, Blockchain, and Finance, such as the global expansion of gaming platforms or new partnerships in the DeFi space.
