“You don’t have much demand growth in the labor market going on.” – 01:54
Satyam Panday, Chief U.S. & Canada Economist at S&P Global Ratings, joins Remy Blaire to discuss the current state of the U.S. labor market and the implications of recent economic data, particularly focusing on the July jobs report.
The pair explore the broader implications of the employment report, noting that the labor market has shown signs of significant weakening over the past several months. Factors contributing to this trend include both demand and supply slowdowns, influenced by immigration policies and cyclical economic factors.
As the implementation of new tariffs are approaching, Satyam examines the potential market reactions and long-term implications of these trade policies. With an effective tariff rate nearing 18% on imports, we anticipate further inflationary pressures as negotiations continue.