Goldman Sachs Economist Notes Job Growth Slowing Below Long-Term Trends

Chief economist Jan Hatzius highlights that U.S. employment growth has averaged 29,000 jobs monthly over the past three months, falling below labor supply benchmarks.

Summary

Goldman Sachs chief economist Jan Hatzius stated that the U.S. economy has added an average of 29,000 jobs per month over the past three months. He emphasized that current employment growth has slowed to levels below longer-term labor supply trends, indicating a notable deceleration in job creation.

Terms & Concepts
  • Labor Supply Trends: The long-term growth pattern of the workforce, influenced by population growth, demographics, and participation rates.
  • Employment Growth: The increase in the number of employed individuals within an economy, often measured monthly or quarterly.