U.S. Bank Wealth Management CIO Eric Freedman explains why he believes more people will return to the workforce within the next few months.
The department noted that gains were broad-based, with the biggest increases in the pandemic-battered leisure and hospitality industry , professional and business services and transportation and warehousing . Nearly every industry gained positions, according to the report released last month. Retail was the exception, shedding nearly 61,000 jobs.
Eric Freedman, U.S. Bank Wealth Management chief information officer, weighs in on the upcoming jobs report. The Labor Department said last month that the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries and rents, rose 8.6% in May from a year ago. Prices jumped 1% in the one-month period from April. Those figures were both higher than the 8.3% headline figure and 0.7% monthly gain forecast by Refinitiv economists.