Washington: US Federal Reserve Chair Jerome Powell said that job growth has slowed in part because of a sharp decline in labour supply driven by lower immigration. Powell said the slowdown reflects changes on both sides of the labour market. He said labour supply and labour demand have both slowed sharply. The US labour market surged after the pandemic as immigration and participation rebounded. Labour supply changes can affect job growth, wage pressures, and inflation, making them a key factor in Federal Reserve policy decisions.