AEI scholars offer their analysis of the May jobs report numbers.
Deputy Director of Economic Policy Studies Michael Strain:
Payroll employment for May significantly beat expectations, with both the payroll and the household survey showing large job gains. Furthermore, revisions to March and April were a large net positive. The economy averaged a net gain of 200,000 jobs per month over the last three months – a healthy rate of increase. But despite an optimistic jobs report, other economic indicators tell a slightly different story. The appropriate path of monetary policy is hard to discern. All eyes will be on the Fed.
Resident Scholar Aparna Mathur:
Strong jobs numbers, but labor force participation rates are still at historic lows and wage growth is weak. Even more worrying is the large number of involuntary part-time workers and discouraged workers who are still struggling to find jobs.
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