The monthly report from the Bureau of Labor Statistics, slated for release at 8:30 a.m. ET on Friday, is expected to show nonfarm payrolls rose by 185,000 in May while the unemployment rate remained flat at 3.9% from the previous month, according to consensus estimates compiled by Bloomberg. In April, the US economyHere are the key numbers Wall Street will be looking at compared to the previous month, according to data from Bloomberg:Average hourly earnings, year over year: +3.9% vs. +3.
Wage data will once again be a closely tracked part of Friday's release, as consistently high wage growth could contribute to sticky inflation. In April, year-over-year wage growth fell below 4% for the first time in nearly three years.Economists expect that wage growth picked up slightly on a monthly basis in May, rising 0.3% compared to April's 0.2% increase. Expectations are for year-over-year wage growth to remain flat at 3.9%.
An American flag flies from a crane as a construction worker helps build a mixed-use apartment complex on Jan. 25, 2024, in Los Angeles, California.
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