Job creation accelerated in May but is still below lofty expectations
6/4/21
< < Go Back
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.
More From CNBC:
Rss Feed