Job growth slowed more-than-expected in May, while the unemployment rate held at a near 50-year low, according to the Department of Labor's Friday report.
The U.S. economy added just 75,000 non-farm payrolls in May. This was below expectations for 175,000 non-farm payroll additions, based on Bloomberg-compiled estimates.
The unemployment rate held at a 49-year low of 3.6%, matching consensus estimates.
Average hourly wages rose 3.1% over last year, while consensus economists anticipated that rate to hold at 3.2% from April to May.The latest assessment of the U.S. labor market comes against a backdrop of rising global trade tensions, some softening economic data and speculation that the Federal Reserve is teetering toward a cut to benchmark interest rates.
On Wednesday, ADP Research Institute and Moody's Analytics reported that the domestic economy added just 27,000 private payrolls in May, coming in sharply below the 185,000 new positions expected and marking the lowest pace of job gains since 2010.But other surveys have suggested continued strength in the U.S. labor market.
On Thursday, the Department of Labor reported U.S. weekly unemployment claims remained unchanged from the week prior, and the closely watched four-week moving average for initial jobless claims declined.
The Conference Board's labor market differential - an indicator reflecting the percentage of consumers saying jobs are plentiful minus the percent saying jobs are hard to find - rose to 36.3 in May, the highest reading since December 2000.This post is breaking.
https://finance.yahoo.com/news/jobs-report-bls-may-2019-212001939.html?.tsrc=bell-brknews
The U.S. economy added just 75,000 non-farm payrolls in May. This was below expectations for 175,000 non-farm payroll additions, based on Bloomberg-compiled estimates.
The unemployment rate held at a 49-year low of 3.6%, matching consensus estimates.
Average hourly wages rose 3.1% over last year, while consensus economists anticipated that rate to hold at 3.2% from April to May.The latest assessment of the U.S. labor market comes against a backdrop of rising global trade tensions, some softening economic data and speculation that the Federal Reserve is teetering toward a cut to benchmark interest rates.
On Wednesday, ADP Research Institute and Moody's Analytics reported that the domestic economy added just 27,000 private payrolls in May, coming in sharply below the 185,000 new positions expected and marking the lowest pace of job gains since 2010.But other surveys have suggested continued strength in the U.S. labor market.
On Thursday, the Department of Labor reported U.S. weekly unemployment claims remained unchanged from the week prior, and the closely watched four-week moving average for initial jobless claims declined.
The Conference Board's labor market differential - an indicator reflecting the percentage of consumers saying jobs are plentiful minus the percent saying jobs are hard to find - rose to 36.3 in May, the highest reading since December 2000.This post is breaking.
https://finance.yahoo.com/news/jobs-report-bls-may-2019-212001939.html?.tsrc=bell-brknews
No comments:
Post a Comment