Wall Street analysts: US employment data reveals signs of economic recession

Data released by the US Bureau of Labor Statistics on the 2nd of this month showed that the number of non-farm jobs in the US increased by 177,000 in April, far higher than the market expectation of 138,000. In response to this, analysts on Wall Street pointed out that although this number shows strong performance, it cannot hide the signs of an upcoming recession in the US economy. David Kelly, Chief Global Strategist at J.P. Morgan Asset Management, stated that although the non-farm employment data does not show that US companies are conducting widespread layoffs or that unemployment rates are rising significantly, if the US tariff policies are not reversed in a timely manner, the impact of tariffs will eventually drag the US economy into a recession abyss.