US Job Growth Likely Moderated to 85,000 in May
Economists expect nonfarm payrolls to have increased by 85,000 last month as the labor market maintains a steady pace despite rising oil prices. Low layoff rates and corporate tax refunds are helping to anchor the economy while the Federal Reserve monitors inflation risks from regional conflicts.
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The United States likely added 85,000 jobs in May, a slowdown from the 115,000 positions created during April. Economists surveyed by Reuters expect the unemployment rate to remain unchanged at 4.3% for a third month. Stable hiring gives the Federal Reserve room to maintain interest rates between 3.50% and 3.75% through year-end.
