WNYT NewsChannel 13 on Nostr: Is the US job market beginning to weaken? Friday’s employment report may provide ...
Is the US job market beginning to weaken? Friday’s employment report may provide hints
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Tentative signs have emerged that the US economy is cooling: companies are posting fewer available jobs, consumer spending and wage growth, while still healthy, is gradually slowing. Economists forecast that the US jobs report for May will show that employers added 180,000 jobs, about the same as April. The unemployment rate is expected to have remained at 3.9%. The economy no longer accelerating, economists and financial markets have begun to worry about the opposite scenario: What if the economy weakens more than is needed to cool inflation? Could it eventually turn into a recession? Fed officials will be scrutinizing Friday’s data on job growth and pay gains as they consider their next steps on interest rates. The number of open jobs fell sharply in April for a second straight month, to the lowest level in three years. The number of Americans quitting their jobs has also fallen back to pre-pandemic levels, a sharp shift from two years ago. A key reason why the economy is still producing solid net job growth is that layoffs remain at historic lows.
#UsJobMarket #EmploymentReport #Economy #Inflation #Recession
https://wnyt.com/us-news/is-the-us-job-market-beginning-to-weaken-fridays-employment-report-may-provide-hints/
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Tentative signs have emerged that the US economy is cooling: companies are posting fewer available jobs, consumer spending and wage growth, while still healthy, is gradually slowing. Economists forecast that the US jobs report for May will show that employers added 180,000 jobs, about the same as April. The unemployment rate is expected to have remained at 3.9%. The economy no longer accelerating, economists and financial markets have begun to worry about the opposite scenario: What if the economy weakens more than is needed to cool inflation? Could it eventually turn into a recession? Fed officials will be scrutinizing Friday’s data on job growth and pay gains as they consider their next steps on interest rates. The number of open jobs fell sharply in April for a second straight month, to the lowest level in three years. The number of Americans quitting their jobs has also fallen back to pre-pandemic levels, a sharp shift from two years ago. A key reason why the economy is still producing solid net job growth is that layoffs remain at historic lows.
#UsJobMarket #EmploymentReport #Economy #Inflation #Recession
https://wnyt.com/us-news/is-the-us-job-market-beginning-to-weaken-fridays-employment-report-may-provide-hints/