What to expect in Friday’s jobs report
Economists expect the April report to show a 55,000 payroll gain and a 4.3% unemployment rate as hiring cools.
- On Friday, the Bureau of Labor Statistics will release the April jobs report, expected to show a gain of 55,000 positions, keeping the unemployment rate at 4.3%.
- Retirement of the large Baby Boomer cohort and reduced net immigration are slowing labor force growth, while artificial intelligence adoption is reshaping occupational mixes across the economy.
- Data from Challenger, Gray & Christmas shows tech companies announced 33,361 job cuts in April, representing about 40% of the 83,387 total cuts announced across all industries last month.
- According to David Tinsley, senior economist at the Bank of America Institute, top earners saw 6% after-tax wage gains while bottom earners saw 1.5%, a figure Tinsley called a 'painful statistic'.
- Earlier this week, New York Fed President John Williams noted 'conflicting signs' between stabilizing hard data and softening sentiment surveys, as investors bet the Fed will hold policy steady amid elevated inflation.
15 Articles
15 Articles
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