Friday’s dismal jobs report is sure to sharpen a debate at the US Federal Reserve (Fed) about whether to take new actions to spur economic growth, but it likely doesn’t settle it.
Some Fed officials had already started arguing for more action before Friday’s report that the unemployment rate rose in May to 8.2% and job growth slowed. Others have hesitated to move, but have held the door open to doing more if the economic outlook deteriorates.
One big question they face: Is the outlook actually worsening or have jobs data turned sour temporarily after stronger-than-expected improvements early in the year possibly driven by unseasonably warm weather?
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The Wall Street Journal