Jobs Picture: Improving, but Still Ugly

The hefty labor market collapse of the 2008 fourth quarter and 2009 first quarter makes the emerging second-quarter declines look comforting in comparison. We expect the Labor Dept.'s U.S. employment report for May, scheduled for release on June 5, to show a drop of 500,000 in nonfarm payrolls—the best reading for payrolls since October.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.