Moody’s chief economist Mark Zandi sees ‘big warning’ signs in June Jobs report for the US

Economist Mark Zandi believes the June US employment report presents an overly optimistic view. He noted modest payroll gains and downward revisions to prior months’ job increases. The household survey showed a sharp decline in employment, which Zandi highlighted. He argued the falling unemployment rate is misleading due to declining labor force participation. Other economists also expressed concerns about the labor market data’s interpretation.