US jobs report to show resilience in the wake of Iran war
The US April jobs report is expected to show a 62,000 increase in payrolls and accelerating wage growth. The labor market has shown resilience despite the energy shock from the Iran war.
The US labor market is expected to show resilience in the April jobs report, with a forecasted 62,000 increase in payrolls and accelerating wage growth. Private-sector job growth was likely stronger, based on a Bloomberg survey of economists. The number of people filing new claims for unemployment insurance fell to the lowest level since 1969 in late April. Job openings in March are projected to be little changed from a month earlier. Federal Reserve officials are focused on the inflationary impact of higher energy prices. US central bankers, including New York Fed President John Williams, will speak this week, providing clues on their concerns about price pressures.
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