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REFILE-Fed's Barkin says slowed immigration will make jobs report hard to decipher - Fox Business

ReutersJul 2, 2025 7:58 PM

- The impact of slowed immigration on the U.S. labor force will make it hard to decipher what coming jobs data says about the strength of the economy, Richmond Fed president Tom Barkin said on Wednesday.

Employment data for June will be released on Thursday, and determining if changes in the unemployment rate are due to weaker growth or the loss of foreign workers "is going to be hard for us to get our minds around," Barkin said on Fox Business. The Fed is watching both inflation and developments in the job market as it weighs when to resume cutting interest rates.

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