According to CNBC that does not bode well for an economy that some fear is
showing signs of unexpected strains, at the same time Europe’s sovereign debt
crisis threatens financial markets and
confidence.
The May employment report, due at 8:30 a.m. ET Friday, is
expected to show that about 150,000 jobs were added in May, above April’s
115,000 but below the 200,000-plus reported earlier in the year. The
unemployment rate is expected to hold
steady at 8.1 percent.
“It’s not really a testimony to strength in employment, and
I think we’re still in a rocky period,” said Diane Swonk, chief economist at
Mesirow Financial. Swonk reduced her forecast Thursday to 125,000 jobs in May
from 150,000 after ADP’s private-sector payroll data showed just 133,000 jobs
were added for the month….
Read more at http://www.cnbc.com/id/47637892
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