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May jobs preview: US job growth likely continued in May amid recession worries
Yahoo Finance
May jobs preview: US job growth likely continued in May amid recession worries
Alexandra Semenova · Reporter
Thu, June 2, 2022, 5:11 PM·3 min read
The U.S. labor market likely remained hot in May, even as tighter monetary conditions and persistent inflation stoke worries of an economic slowdown.
The Labor Department is set to release its latest monthly jobs report at 8:30 a.m. ET on Friday. Here are Wall Street's expectations for the report, according to Bloomberg data:
• Non-farm payrolls: +323,000 expected, +428,000 in April
• Unemployment rate: 3.5% expected, 3.6% in April
• Average hourly earnings, month-over-month: +0.4% expected, +0.3% in April
• Average hourly earnings, year-over-year: +5.2% expected, +5.5% in April
If the government’s data is in-line with forecasts, job growth in May will hit a 13-month low, but show growth that remains well above pre-pandemic trends.
Over the past year, the U.S. economy has added at least 400,000 jobs each month, bringing employment to just 1.2 million jobs short of levels before the pandemic hit the economy in March 2020.
{snip}
May jobs preview: US job growth likely continued in May amid recession worries
Alexandra Semenova · Reporter
Thu, June 2, 2022, 5:11 PM·3 min read
The U.S. labor market likely remained hot in May, even as tighter monetary conditions and persistent inflation stoke worries of an economic slowdown.
The Labor Department is set to release its latest monthly jobs report at 8:30 a.m. ET on Friday. Here are Wall Street's expectations for the report, according to Bloomberg data:
• Non-farm payrolls: +323,000 expected, +428,000 in April
• Unemployment rate: 3.5% expected, 3.6% in April
• Average hourly earnings, month-over-month: +0.4% expected, +0.3% in April
• Average hourly earnings, year-over-year: +5.2% expected, +5.5% in April
If the government’s data is in-line with forecasts, job growth in May will hit a 13-month low, but show growth that remains well above pre-pandemic trends.
Over the past year, the U.S. economy has added at least 400,000 jobs each month, bringing employment to just 1.2 million jobs short of levels before the pandemic hit the economy in March 2020.
{snip}