Story perspectives

Job Market Cools as Fed Cuts Rates Amid Declines

9/21/2025

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Summary

Story summary

Gary Cohn, a former Trump official, indicated that the job market is deteriorating, though this may be temporary.
The Federal Reserve cut its benchmark interest rate by 0.25 percentage points in response to slower economic growth.
Fed Chair Jerome Powell noted a cooling labor market and stressed the importance of job creation data.
Cohn reported a decline in job creation from over 100,000 to under 50,000 per month.
Companies are cutting labor costs across various industries as they shift from labor hoarding to workforce reduction.

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Story summary

Gary Cohn, a former Trump official, indicated that the job market is deteriorating, though this may be temporary.
The Federal Reserve cut its benchmark interest rate by 0.25 percentage points in response to slower economic growth.
Fed Chair Jerome Powell noted a cooling labor market and stressed the importance of job creation data.
Cohn reported a decline in job creation from over 100,000 to under 50,000 per month.
Companies are cutting labor costs across various industries as they shift from labor hoarding to workforce reduction.