Markets

May Jobs Report: 138000 More On Payrolls; Unemployment Dips Slightly

May Jobs Report: 138000 More On Payrolls; Unemployment Dips Slightly

USA short-term interest rate futures were little changed on Friday after a government report showed employers added fewer jobs than expected but the unemployment rate dropped to a 16-year low.

The total hiring is up from 174,000 jobs in April and the 255,000 jobs added in March.

The major USA index futures are pointing to a higher opening on Friday following the release of the Labor Department's closely watched monthly jobs report.

USA jobs growth slowed sharply last month, according to closely watched official data, dealing a blow to Donald Trump. It also said "most" districts had cited worker shortages across a broadening range of occupations and regions.A fourth report by global outplacement consultancy Challenger, Gray & Christmas showed layoffs announced by US -based employers surged 41 percent to 51,692 in May.

The dollar hit 111.680 yen JPY=, its highest since May 26, in early trade in Asia before slipping back to 111.590, a 0.2 percent gain on the day.

A strong payrolls report would effectively seal the case for a Fed rate hike this month despite sluggish wage gains.

Economists surveyed by MarketWatch had forecast a 185,000 increase in nonfarm jobs.

Chinese stocks ended little changed as investors fretted over tighter liquidity and slowing economic growth.

A stronger dollar and broadly buoyant global stock markets dented appetite for safe-haven gold, which hit its lowest levels in a week.

Coach Luciano Spalletti leaves Roma
On Tuesday, Spalletti said did not deserve the jeers some fans aimed at him on Sunday and remained friends with Totti. The post Roma part ways with Spalletti appeared first on Vanguard News .


"We're in a mature phase of the cycle, job growth is going to slow down".

While officials welcome the economy's gains, they don't want to let it overheat, sending inflation too high.

Stocks in Europe joined the party with Euro Zone blue-chips and UK's FTSE 100 up by 0.9 and 0.4 per cent respectively and nearing their highest levels so far. The highest rate was in the Cleveland area, at 5.4 percent.

US companies in May hired more workers than anticipated by a wide margin to rebound from a six-month low in the prior month, while a tightening labor market should point to increasing wage growth.

But oil prices sank in the afternoon, with IG Markets chief strategist Chris Weston saying that the move "has caused a few oil traders to sell crude given Trump's actions could, in theory, lead to increased oil production".

For metropolitan areas in April, the agency says Ames, Iowa, and Boulder, Colo., had the lowest unemployment rates, at 1.7 percent and 1.8 percent, respectively.

By comparison, the US added 615,000 jobs between February and April of previous year, and 586,000 jobs in 2015.

The health of the labor market is evident in higher wage growth.

Shares of RH (RH) are under pressure in pre-market trading after the furniture retailer reported adjusted first quarter earnings that matched estimates but lowered its full-year profit outlook.


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