Federal Reserve Governor Cook: Correction to non-farm payrolls data could herald a turning point for the U.S. economy
2025-08-06 21:42:22
Fed Governor Lisa Cook called the July jobs report "worrisome" and said it could herald an inflection point for the U.S. economy. "These revisions are somewhat typical of turning points," Cook said during a discussion at the Boston Fed on Wednesday. Data released last week showed a sharp cooling in the labor market over the past few months. Nonfarm payrolls rose by 73,000 in July after two months of data were revised down sharply by nearly 260,000, according to a report released by the Bureau of Labor Statistics. The unemployment rate edged up to 4.2 percent from 4.1 percent in June.
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