Jobs

Job creation accelerated in May but is still below lofty expectations

6/4/21
from CNBC,
6/4/21:

Nonfarm payrolls increased 559,000 in May, below the 671,000 estimate. May’s letdown came after April sharply undershot expectations, with the upwardly revised 278,000 still well short of the initial 1 million estimate The unemployment rate fell to 5.8%, slightly better than expected and below April’s 6.1%. Hospitality again led job creation, with 292,000 new positions. Markets reacted positively to the report, with investors expecting the Fed to keep a loose monetary policy.

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