Hassett: Not disappointed with the non farm payroll report

White House National Economic Council Director Hassett stated that he is not disappointed with the non farm payroll report, as government employment has declined while employment in all other industries is increasing. (Source: Jin Shi) AI interpretation: Non farm employment data shows structural differentiation, and the contraction of government departments has not concealed the expansion vitality of the private sector. The labor market as a whole exhibits strong endogenous dynamics, effectively offsetting the impact of fluctuations in specific fields. The widespread employment growth has consolidated the expectation of an economic soft landing and directly weakened the market's concerns about the deterioration of the labor market. The Federal Reserve will maintain stronger determination in formulating monetary policy, and the stable performance of the job market supports the sustainability of the high interest rate environment.