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Here’s What the Fed Will Be Watching for in the Jobs Report

  • Underemployment rate’s three-month drop is biggest since 2011
  • Payrolls seen rising in May as economy rebounds this quarter
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ADP Says U.S. Added 253,000 Jobs in May

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President Donald Trump and Federal Reserve Chair Janet Yellen agree on at least one thing: The underemployment rate is worth watching to monitor labor-market slack, and its recent plunge is welcome news for Americans who’ve missed out on the jobs recovery.

Count it among the good things that don’t have to come to an end, at least not soon.