Jobs report: 280,000 jobs in May with 5.5% unemployment
Posted By RichC on June 5, 2015
The jobs numbers were relatively positive considering the weak growth earlier this year, but still concerning in that the post-recession job growth is not was is normally expected after a recession. Still, one positive is that we are not facing inflation or seeing numbers that would indicate the U.S. is slipping back into a recession. Job grow was “good” not “great” and a 0.3% rise in hourly wage growth for private sector workers is promising.
“It’s a tale of two economies, the economy of the unskilled, and the economy of the semiskilled and the skilled.”
– Robert A. Funk, Express Employment Professionals
Wall Street had a muted reaction when the numbers were released at 8:30AM after broad based weakness in stocks yesterday. Many wisely see the somewhat positive economic indicators a sign that the Federal Reserve may start tightening; most expect an autumn rate hike and almost all see U.S. interest rates rising in 2016.
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