May US non-farm payrolls “not too good, not too bad”

04 June 2021

 

Summary: Non-farm payrolls increase in May; less than expected; previous two months’ figures revised up; jobless rate falls, participation rate down; market response: “not too good, not too bad”; not strong enough to add to speculation of Fed taper; jobs-to-population ratio inches up; underemployment rate falls closer to 10%; annual hourly pay growth resumes, employers having to “pay up”.   The US economy ceased producing jobs in net terms as...

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