“The U.S. labor market is steadily losing steam as evidenced by the staggering downward revisions and a declining labor force participation rate,” Bullard added. This slowdown should feed through to hiring and business investment activity, and lead to soft, yet still positive, GDP growth in the second half of the year.”

US President Donald Trump has fired the boss of one of America's most important economic institutions hours after weaker-than-expected jobs data stoked further alarm about his tar

U.S. President Donald Trump fired the Labor Department's Bureau of Labor Statistics Commissioner Erika McEntarfer on Friday after data showed weaker-than-expected employment growth in July and massive downward revisions to the prior two months' job counts.