US stocks fell Friday, with the Nasdaq losing 1.4% and the S&P 500 about 0.92% lower. The slip followed new employment data …
US stocks fell Friday, with the Nasdaq losing 1.4% and the S&P 500 about 0.92% lower. The slip followed new employment data that showed the US labor market added jobs at steady pace in May. US employers added 390,000 jobs last month, beating estimates but still coming in at the slowest pace since April 2021. Unemployment remained at 3.6%.
«Overall, this is not a game-changing report», Ian Shepherdson, chief economist of Pantheon Macroeconomics said. «But the continued moderation in wage growth is a big deal; if the numbers had rebounded, it would be much harder to make the case that a 25bp hike in July is a real possibility. In the event, it is still in play, but a great deal depends on next week’s CPI data.
