Economics
U.S. Jobs Report Eyed for Cracks in Labor Market
- Brainard pays close attention as Fed considers next move
- Payroll growth is seen cooling to still-solid 175,000 in May
A worker welds at an assembly plant in New Holland, Pennsylvania U.S.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Friday’s U.S. jobs report will be especially scrutinized by economists, investors and Federal Reserve policy makers watching for signs of cracks in the labor market as trade tensions weigh on the economy and spur bets interest-rate cuts are coming.
The Labor Department figures are expected to show payroll gains cooled in May to a still-strong 175,000, while unemployment probably held at a 49-year low of 3.6% as wage gains held up. That would offer some comfort after retail sales, factory output and home purchases showed the economy struggling this quarter after better-than-expected growth in the first three months of the year.