A Damp Month for Jobs

Action Economics expects the government's May data to show a sizable slowdown in employment growth

The pace of U.S. job growth may slow in May. For the government's employment report for the month, scheduled for release June 2, we at Action Economics have knocked down our estimate for nonfarm payrolls to only a 165,000 gain, from 185,000 previously, given recent indicators of payroll growth moderation in other recent economic reports. The May report should confirm the following:

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