Falling demand: A file picture of the Whole Foods Market in Los Angeles. The surprisingly low non-farm payrolls data reinforce that cracks are emerging in the United States labour market. — AFP
NEW YORK: Former Treasury Secretary Lawrence Summers says that he’s still concerned about inflation picking up after wage growth was more than expected in July.
His comments on Bloomberg Television’s Wall Street Week with David Westin came after the US payrolls report last Friday showed job gains slowed to 187,000 in July and the prior two months were revised down.
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