Jerome Powell: Job Growth Slows To 'Essentially Zero'

Job creation in the US has slowed to essentially zero, Fed Chair Jerome Powell said yesterday as the Fed released its latest economic projections, which included slightly higher economic growth than previously projected and little change to the unemployment rate.

Altogether, Powell said, central bankers see "a degree of stability" in the labor market. "But the thing that I think a good number of people on the committee are concerned about is just the very, very low level of job creation."