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JPMorgan CEO Jamie Dimon says the economy ‘is weakening’

Jamie Dimon cites a 911,000-job downward revision and tariff uncertainties as factors slowing U.S. economic growth, with consumer confidence weakening amid strong corporate profits.

  • JPMorgan CEO Jamie Dimon said on Tuesday that the U.S. economy is weakening amid revised labor data and weak August job growth.
  • The Labor Department revised nonfarm payrolls down by 911,000 jobs through March 2025, the largest adjustment in over 20 years, aligning with market expectations.
  • August payrolls increased by only 22,000 jobs, and economists noted a slowing labor market and weaker consumer activity despite still-strong corporate profits.
  • Dimon expressed uncertainty about whether the economy is heading toward a recession or simply slowing down, while economists generally view the chances of a recession as low and see the labor market softening occurring at a gradual pace.
  • Recent developments indicate that the Federal Reserve may reduce interest rates soon in response to increasing risks associated with the slowing economy and downward revisions in labor market data.
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CNBC broke the news in United States on Tuesday, September 9, 2025.
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