U.S. Jobs Market Update

FRANKFURT (Reuters) – The U.S. jobs market has started to cool but remains resilient. The Federal Reserve aims to avoid a drastic weakening of the labor market, according to Fed Governor Adriana Kugler during a conference in Frankfurt.

Kugler welcomed the lower unemployment reported last Friday, stating, "We don't want a drastic slowdown in the labor market."

She noted that various metrics indicate the labor market is cooling back to pre-pandemic levels but emphasized that the Fed seeks to prevent it from cooling to the point of causing "undue" pain.