Tech Geek on Nostr: US job growth expected to remain at moderate pace in May Summary 1. Nonfarm payrolls ...
US job growth expected to remain at moderate pace in May
Summary
1. Nonfarm payrolls forecast to rise by 185,000 in May
2. Unemployment rate estimated to be unchanged at 3.9%
3. Average hourly earnings seen up 0.3%, 3.9% year-on-year
U.S. job growth likely maintained its moderate pace in May and wage gains were expected to hold steady, which would keep the Federal Reserve in wait-and-see mode on interest rates but likely encourage bets the central bank will lower borrowing costs at least once this year.
The Labor Department's closely watched employment report on Friday is also expected to show the unemployment rate remained below 4% for the 28th straight month. While the labor market has softened in recent months, its still-solid clip has allowed the Fed to take its time so far in deciding when to begin cutting interest rates.
Published at
2024-06-07 12:09:53Event JSON
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