Latest news with #jobsReport
Bloomberg
11 hours ago
- Business
- Bloomberg
New US Tariffs Are Working as Intended, Right? Wrong.
According to one school of thought, recent economic data give cause to celebrate. The US trade deficit narrowed dramatically in April. Growth will likely be higher in the second quarter than in the first. And last week's jobs report suggests the labor market remains solid. So, the administration's aggressive new tariffs are working, right?
Washington Post
4 days ago
- Business
- Washington Post
A solid labor market is showing new signs of fragility
The U.S. labor market growth probably somewhat slowed in May, signaling resilience amid ongoing economic uncertainty that has pushed employers to pause hiring or cut jobs. The Labor Department will release the May jobs report Friday morning, the latest snapshot of the state of the jobs market, with forecasters predicting some 125,000 jobs added. That would mark a drop from the previous month but strong enough growth to keep the economy out of a recession.
Bloomberg
5 days ago
- Business
- Bloomberg
Treasury Rally Eases As Investors Cautious on Jobs and Outlook
A rally in US Treasuries steadied, with investors cautious ahead of Friday's jobs report and slightly paring bets on interest-rate cuts from the Federal Reserve. On Thursday the two-year yield rose as much as two basis points to 3.89%, trimming a steep decline in the previous session triggered by softer-than-expected US economic data. Traders still fully priced two quarter-point cuts from the Fed this year, but trimmed wagers on a third move.
Daily Mail
6 days ago
- Business
- Daily Mail
BREAKING NEWS Trump shifts blame to Jerome Powell after shock job report threatens President with worst hiring slowdown in years
President Donald Trump is lashing out on social media. Jerome Powell is on the receiving end of today's ire. Powell, the Federal Reserve chair who is slowly cutting back interest rates to minimize the risk of continued inflation, is caught in the President's crosshairs. Trump is blaming the chair for a paltry jobs report. US private payrolls increased far less than expected in May, the ADP National Employment Report showed on Wednesday. Private payrolls increased by only 37,000 jobs last month after a downwardly revised 60,000 rise in April. The May report is far less than expected. It's the lowest ADP report since March 2023. Economists polled by Reuters had forecast private employment increasing 110,000 following a previously reported gain of 62,000 in April. 'ADP NUMBER OUT!!! 'Too Late' Powell must now LOWER THE RATE,' Trump said in the post. 'He is unbelievable!!! Europe has lowered NINE TIMES!' The European Central Bank has only cut interest rates seven times, with its latest slashing coming in mid-April. The ADP report, jointly developed with the Stanford Digital Economy Lab, was published ahead of the more comprehensive employment report for May due to be released on Friday by the Labor Department's Bureau of Labor Statistics. There is no correlation between the ADP and BLS employment reports. The labor market continues to ease amid economic uncertainty from tariffs. Government data on Tuesday showed there were 1.03 job openings for every unemployed person in April, little changed from March. Private payrolls likely increased by 120,000 jobs in May after advancing 167,000 in April, a Reuters survey showed. Overall nonfarm payrolls are estimated to have increased by 130,000 jobs after rising 177,000 in April. The unemployment rate is forecast to be unchanged at 4.2 percent.
