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Response to BumRushDaShow (Original post)

Mon Jun 10, 2019, 12:16 PM

23. "Everything You Need to Know About the May Jobs Report"

From last Friday. Yes, I'm getting slow with this stuff.

Economists project that the unemployment rate held steady at 3.6%—a nearly 50-year low. Follow our coverage of the May jobs report.



U.S. Adds 75,000 Jobs in May, Well Below Expectations
Last Updated Jun 7, 2019 at 9:48 am ET

The unemployment rate held at 3.6%, a nearly 50-year low, while wages grew 3.1% from a year earlier, also falling below expectations.

Key Takeaways From the May Jobs Report

Thanks for joining us on this Friday for our coverage of the jobs report. To read more, please check out our main story from the jobs report and markets coverage. Here are our key takeaways from the report:

• The fewer-than-expected 75,000 jobs created in May adds to investors’ concerns about slowing economic growth. The softer jobs data, coupled with heightened global trade tensions could spur the Federal Reserve toward easing monetary policy. Bets on lower interest rates drove stocks higher again Friday.
• Although the unemployment rate held steady at its lowest level in nearly 50 years, a miss on wage growth and downward revisions to March and April are also stoking fears that the U.S. economy is slowing more quickly than expected in the second quarter.
• Some analysts cited a slowdown in the services sector as a worrisome trend that could bolster bets on rate cuts. Sectors that were little changed for hiring last month included mining, construction and manufacturing, another negative for those monitoring signs that trade tensions are hurting the economy.
• Today’s report increases investors’ focus on inflation, industrial production and retail sales figures next week. Industrial production and retail sales fell unexpectedly in April, and more downbeat data points could lead to further downgrades of economic growth estimates.

-- Amrith Ramkumar, Jessica Menton

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