JPMorgan CEO Jamie Dimon claimed on Tuesday the US economy “is weakening” after the Labor Department slashed nearly 1 million jobs from its initial employment estimates for the year ending March 2025.

The head of the nation’s largest bank told CNBC that the “big revision” by the Bureau of Labor Statistics to lower its non-farm payrolls data by 911,000 pointed to stuttering US growth.

“I think the economy is weakening,” Dimon said at an event to mark the opening of the banking giant’s new $3 billion Manhattan HQ. “Whether it’s on the way to recession or just weakening, I don’t know.”

REUTERS

“There’s a lot of different factors in the economy right now,” he added, pointing to weakening consumer spending while citing strong corporate profits.

The long-serving CEO also forecast that th

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