Economists believe that May employment data show that U.S. employment growth has accelerated
The employment creation in the United States last month is expected to accelerate sharply, which is a potential sign of alleviating the labor market mismatch that has clouded the US economic rebound.
Refinitiv data shows that the median forecast of economists surveyed shows that the number of jobs increased by 650,000 in May, which is much higher than the 266,000 jobs created in April. Non-agricultural employment data will be released at 8.30 am Eastern Daylight Time on Friday.
These data will be released at a critical moment in the US economy. Due to the removal of pandemic restrictions and large-scale fiscal stimulus across the country, growth rebounded strongly and triggered an outbreak. inflation.
At the same time, companies have been complaining that they are trying to re-employ workers in response to the surge in demand, prompting them to raise wages to attract new employees.
This April Employment Report Far below economists’ expectations, and far below the rate of job creation in March, causing widespread concern Labor shortage May permanently affect the U.S. economic recovery.
But the stronger May report may quell some concerns, suggesting that the weak hiring in April was a temporary phenomenon related to the lingering effects of the virus, school closures and government transfers and will eventually be resolved.
When the monthly employment report was released, policy makers U.S. Federal Reserve We are preparing to discuss the relaxation of some large-scale monetary stimulus measures injected into the economy U.S. economy Since the beginning of the epidemic.
Since last year, the central bank has been buying US$120 billion in assets every month. Monetary policymakers have expressed interest in start speaking Regarding the pace of “shrinking” bond purchases-although they did not specify when the process is expected to begin.
The improvement in job creation in May will also make the Biden administration feel gratified. The Biden administration is surprised and Take defensive measures The economy slowed in April because Republicans questioned the effectiveness of their economic policies.
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