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Barkin says jobs point to a “low hire, low fire” labor balance

The Richmond Fed president said he is watching corporate earnings for signs of how they feed into the job market.

Reported · Written up by our desk · Central Banks

Thomas Barkin, president of the Federal Reserve Bank of Richmond, said the latest employment figures suggest a labor market in weak balance rather than one in decline, describing the current dynamic as “low hiring alongside low firing.”

He added that while the jobs data does not “feel very good,” it is consistent with a sector in weak balance, and he said corporate earnings remain strong and are growing.

Barkin said he is monitoring corporate earnings for potential linkages to the job market, emphasizing that the employment picture has been steady rather than accelerating in either direction.

In a market snapshot tied to the event, the US dollar was reported as the strongest against the euro, with a heat map showing percentage changes among major currencies.

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