Negative jobs revisions and low wage growth make rate hikes unlikely, Bob Elliott notes

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06.07.2026

Negative jobs revisions and low wage growth make rate hikes unlikely, Bob Elliott notes — Weak jobs and slow pay dim hike case

Bob Elliott, co-founder and CIO at Unlimited, points to signs of weakness in the U.S. labor market based on recent jobs data.

Elliott highlights negative revisions, reduced hiring, low prime-age employment since 2023, and subdued wage growth as factors making it difficult to justify near-term Federal Reserve rate hikes.

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Elliott recently flagged a sharp decline in U.S. informal sector jobs, warning this trend could point to additional labor market weakness. He has also cited reduced central bank gold buying as a likely cause of recent softness in the gold market. These observations have contributed to his cautious outlook on current economic conditions.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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