The United States job growth picked up in May but was not enough to meet market expectations, Bloomberg reported. Payrolls grew by 559,000 in May, short of the 675,000 market consensus. This also compares with the 278,000 gain in April.The unemployment rate fell to 5.8%, while the labor force participation rate was little changed at 61.% from the previous month's … [Read more...] about United States’ 559,000 Job Growth in May Short of Potential, Says Analyst
Forex News
China Seeks to Halt Consumer Price Rally — Failure Is Likely
Chinese officials have unveiled a full arsenal of measures to taper down consumer prices, but strategists expect this to fail, Bloomberg reported. China, in the last three weeks, hiked transaction fees, adjusted tax regulations, censored industry research, called on producers to unload inventories, and pushed trading firms to reduce wagers.The measures seek to address the … [Read more...] about China Seeks to Halt Consumer Price Rally — Failure Is Likely
Service Sector Carves Fresh All-Time High in May, Beating Expectation
The services sector output hit a fresh all-time high in May as most businesses reopened after the COVID-19 pandemic, according to the Institute for Supply Management. The Services PMI grew 1.3 percentage points to 64% in May from 62.7% in April.The latest reading surpassed the previous record high of 63.7% recorded in March, after growing for 12 straight months.All 18 … [Read more...] about Service Sector Carves Fresh All-Time High in May, Beating Expectation
U.S. Private Sector Job Growth Posts 11-Month High in May
The United States private sector added nearly a million jobs in May, according to the ADP National Employment Report. Private sector grew by 978,000 in May, the largest jump since 4.350 million jobs were added in June 2020.The latest figure compares with 654,000 jobs added in April, and 3.170 million in May 2020.Most of the additional jobs were in services, specifically in … [Read more...] about U.S. Private Sector Job Growth Posts 11-Month High in May
Jobless Claims Below 400,000 For First Time Since COVID-19 Pandemic
American unemployment claims fell below 400,000 for the first time since the COVID-19 pandemic hit, according to data released by the Labor Department. Seasonally adjusted initial claims for the week ending May 29 fell 20,000 to 385,000. This is the lowest level since it stood at 256,000 on March 14, 2020.The previous week's level was revised down by 1,000 to 405,000 from … [Read more...] about Jobless Claims Below 400,000 For First Time Since COVID-19 Pandemic
