off-the-wire

White House adviser Hassett says there have been mixed signals in job market

Kitco Media
By Reuters
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Reuters
White House adviser Hassett says there have been mixed signals in job market teaser image

Nov 17 (Reuters) - White House economic adviser Kevin Hassett on Monday said there have been mixed signals in the job market, and that the labor market could be slowing down.

"I think that there have been mixed signals in the job market and really, really positive signals in the output markets," Hassett told CNBC in an interview.

"I think that there could be a little bit of almost quiet time in the labor market because firms are finding the AI is making their workers so productive that they don't necessarily have to hire the new kids out of college," he said.

A weakening labor market could prompt the U.S. Federal Reserve to again lower its key interest rate by 25 basis points next month, economists say.

Reporting by Bhargav Acharya in Toronto; Editing by Doina Chiacu

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