The looming May jobs report, which will be released Friday, is a big one, especially after hiring slowed unexpectedly in April. It "will provide the first indication of whether the hiring slowdown … was a fluke, as some economists suspect" and "it will also provide evidence of whether workers are streaming back into the labor force, which would alleviate central bank concerns about labor shortages driving up inflation," The Wall Street Journal reports.
So, what to expect? The smart answer is probably that it's best not to make predictions, or at least confident ones, after April's unpleasant surprise, but the Journal surveyed economists, anyway. They estimate an additional 674,000 jobs in May, which would be an improvement from April's 266,000, but not one that will necessarily knock anyone's socks off. As the Journal notes it would take the United States about a year to return to the February 2020 — the last month before the COVID-19 pandemic really took hold — employment level at that pace. Read more at The Wall Street Journal.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
'We already have the tools to do better'Instant Opinion Opinion, comment and editorials of the day
-
Kurdish PKK militia to disband for Turkey talksspeed read The Kurdistan Workers' Party will disarm after four decades of armed conflict with Turkey, putting an end to 'one of the longest insurgencies in the Middle East'
-
US, China agree to lower tariffs for 90 daysspeed read US tariffs will fall to 30% from 145%, while China will cut its tax on US imports to 10% from 125%
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
What is the job market's future after Trump's tariffs?Talking Points Economic analysts are split on what the tariffs could mean for employees
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
