May jobs report to show more balanced labor market
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 7 June 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Friday, June 7th. I'm Julie Morgan. We have a preview of the jobs report. A firm is offering more |
| 0:16.7 | options and Robin Hood is expanding its crypto business globally. The first week of June will culminate today with the biggest of several labor-related data reports. |
| 0:28.0 | The Department of Labor's Employment Situation Report for May, also known as the Non-Farm Payrolls Report. report for |
| 0:35.0 | job-of-a-artoules report. On Tuesday, data for job openings in April softened more than expected. A day later, |
| 0:41.0 | ADPs take on private employment also signaled a slower growth scenario. |
| 0:46.1 | And Thursday, Challenger's job cuts reports show that year-to-date announced job cuts are |
| 0:51.2 | at the third highest level since May of 2009 and that hiring |
| 0:55.4 | rates have weakened. Economists on average expect that the US economy added |
| 1:00.4 | 188,000 jobs in May up from the Bureau of Labor Statistics' initial estimate of |
| 1:06.4 | 175,000 jobs added in April. |
| 1:09.8 | The unemployment rate is expected to stay unchanged at 3.9%, which remains near record lows. |
| 1:16.9 | With inflation being the Federal Reserve's main focus, the jobs report data on average hourly earnings will be important. |
| 1:24.8 | That's expected to rise 0.3% month over month, a tick up from the 0.2% increase in April, |
| 1:32.0 | according to the consensus estimate. |
| 1:34.5 | On a year over year basis, that's expected to be a 3.9% increase |
| 1:39.4 | unchanged from the prior month's pace. |
| 1:42.2 | The labor force participation rate is expected to stay at 62.7% according to the consensus estimate. |
| 1:50.0 | A firm Holdings has announced two new payment options, pay in two and pay in 30. |
| 1:56.4 | The company says this offers more flexibility for customers that get paid semi-monthly or |
| 2:01.9 | monthly. |
| 2:02.8 | The new options will allow customers to make payments in two interest-free |
... |
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