{"id":34845,"date":"2022-06-03T08:59:01","date_gmt":"2022-06-03T08:59:01","guid":{"rendered":"https:\/\/harchi90.com\/may-jobs-report-expected-to-show-hiring-waned-as-white-house-warned\/"},"modified":"2022-06-03T08:59:01","modified_gmt":"2022-06-03T08:59:01","slug":"may-jobs-report-expected-to-show-hiring-waned-as-white-house-warned","status":"publish","type":"post","link":"https:\/\/harchi90.com\/may-jobs-report-expected-to-show-hiring-waned-as-white-house-warned\/","title":{"rendered":"May jobs report expected to show hiring waned as White House warned"},"content":{"rendered":"
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US Department of Labor Secretary Marty Walsh reacts to the economy adding 428,000 jobs in April, beating estimates by economists.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

US job growth likely cooled off in May, suggesting that headwinds from the highest inflation in four decades, global supply chain constraints and a worsening worker shortage are starting to weigh on the labor market.<\/p>\n

The Labor Department on Friday morning is releasing its closely watched May jobs report, which is projected to show that payrolls increased by 325,000 last month and the unemployment rate dropped to 3.5%, according to a median estimate by Refinitiv economists. That would mark the worst month for job creation since April 2021, when payrolls grew by 263,000. <\/p>\n

“We’ve enjoyed 12 consecutive months of payroll growth north of 400,000, but that streak is close to an end,” said Greg McBride, chief financial analyst at Bankrate. <\/p>\n

“Job growth will continue, but at a more modest pace in the months ahead as the Federal Reserve works to slow the economy and corral inflation.” <\/p>\n

BEN BERNANKE ASSESSES THE FED, POWELL AND INFLATION<\/u><\/strong><\/p>\n