Some color: The Investing.com forecast for the forthcoming BLS report is for 190K nonfarm private new jobs and the unemployment rate to remain at 3.8%. Their forecast for the May full nonfarm new jobs is (the PAYEMS number) is 200K.
From yesterday’s ADP report: “The labor market continues to march towards full employment,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Healthcare led job growth once again and trade rebounded nicely.”
Mark Zandi, chief economist of Moody’s Analytics, said, “Business’ number one problem is finding qualified workers. At the current pace of job growth, if sustained, this problem is set to get much worse. These labor shortages will only intensify across all industries and company sizes.”
Hat tip advisorperspectives.com