The U.S. probably created fewer than 200,000 new jobs in April for the first time in more than two years, economists say.
Here’s what to watch in the U.S. employment report due on Friday morning.
For comparison’s sake, the U.S. created 230,000 jobs in March, 326,000 in February and, 472,000 in January. All those gains were well above long-term hiring trends. Fed reaction Senior Fed officials believe the economy can only add around 100,000 new jobs a month without adding to inflationary pressures. They want to see hiring taper off even more — and unemployment rising a bit — to ease the biggest labor shortage in modern times.
The Fed expects the rate to climb to as high as 4.5% as the economy weakens. But that would still leave the jobless rate at historically low levels. Until several years ago, the unemployment rate has seldom fallen below 4%.
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