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U.S. Economy Grows 4% Amid Job Creation Stagnation

10/1/2025

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Summary

Story summary

The U.S. economy grows near 4% while job creation stalls, fueling AI debates.
Annual capex rises 11% as payroll growth averages 29,000 jobs per month.
The Federal Reserve eases policy due to labor-market concerns, despite strong financial conditions.
JPMorgan economists flag a capex and jobs disconnect; Magnificent Seven are expected to allocate $414 billion in capex, with AI spending slowing.

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Story summary

The U.S. economy grows near 4% while job creation stalls, fueling AI debates.
Annual capex rises 11% as payroll growth averages 29,000 jobs per month.
The Federal Reserve eases policy due to labor-market concerns, despite strong financial conditions.
JPMorgan economists flag a capex and jobs disconnect; Magnificent Seven are expected to allocate $414 billion in capex, with AI spending slowing.