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6th Jun 2024 18:10USWeekly Monitor

  • The initial estimate of a brisk 272K rise in May payrolls likely will be revised down, given many weak indicators.
  • The case for firms to hoard staff is weakening as the unemployment rate grinds higher.
  • The unwinding of a calendar quirk drove May’s jump in average hourly earnings; the trend still is slowing.

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Keywords for: 10 June 2024 US Monitor Core

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence