Breakneck US Job Growth Was Inevitable to Slow Down, Biden Adviser Says

U.S. Job Growth Slows Down, Economic Adviser Says It’s Expected

Washington – U.S. job growth had been accelerating rapidly, and a slowdown was anticipated, according to White House economic adviser Jared Bernstein. This statement followed the release of employment figures for August, which showed an increase that fell short of expectations.

Bernstein commented in an interview with MSNBC, acknowledging that the pace of job gains has indeed decreased compared to previous months. "No question, that’s a slower pace of job gains than we saw, but we were sustaining a breakneck pace that we knew was going to slow down," he stated.

The key concern, Bernstein noted, is whether the economy is creating sufficient jobs to provide ample opportunities for individuals in the labor market. This, in turn, would help keep the unemployment rate stable and support solid wage growth.