BI
- Nobel economist Paul Krugman said hopes for a soft landing of the economy are 'still very much alive.'
- Krugman was responding to the latest US jobs report and unemployment rate.
- Recent labor-market cooling without a rise in unemployment is good news for the US economy, he said on Twitter.
Signs of a labor-market cooldown without a rise in unemployment is good news for the US economy, suggesting a mild slowdown in growth still remains a possibility, according to Nobel Prize-winning economist Paul Krugman.
Average monthly job creation in the world's largest economy slowed to 222,000 during the February-April period, from 338,000 for the previous six months, official data show. Still, the unemployment rate came in at a 53-year low of 3.4%.