Employers added 175,000 jobs last month, below economists expectations for a 243,000 increase. Wages increased 3.9% in the 12 months through April, below expectations for a 4.0% gain after rising 4.1% in March.
Former U.S. Treasury Secretary Lawrence Summers, speaking at the same conference, advocated for dropping the 2 per cent inflation goal, warning that maintaining it could lead to a significant economic downturn in the coming years., Economy News - Times Now
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