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Robert Wolf: U.S. jobs and GDP data signal growing economic worries
Robert Wolf criticized recent claims that the economic situation would not be disrupted, pointing to a decline in jobs and weakened economic growth.
Wolf highlighted that employment has dropped since May 2025, noting a loss of 92,000 jobs in the most recent jobs report, with the manufacturing sector particularly affected. He also referenced newly revised U.S. GDP figures showing growth of only 0.7 percent. Wolf characterized the labor market as being in a 'jobs-cession,' emphasizing concerns for hardworking Americans.
Wolf’s concerns over weakening employment and tepid growth align with his previous observations on heightened market volatility, such as when Dow futures plunged in response to a surge in U.S. oil prices, as detailed in his analysis of a 1,000-point drop in Dow futures. His perspectives on labor and growth risks also recall warnings about external shocks, including the potential for catastrophic consequences in oil markets stemming from global supply disruptions, underlining the interconnected nature of economic stability and geopolitical developments.
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