Company payrolls increased by a lower-than-expected 171,000 last month, the US Labor Department reports–the weakest gain in three months. The crowd had been looking for stronger results near +200,000. Instead, this morning’s update falls in line with ADP’s April profile of weaker growth.
Continue reading →

The US economy is struggling to regain momentum after GDP growth stumbled in the first quarter to the slowest pace in two years. The preliminary numbers available to date for last month paint a mixed profile for Q2’s start (see here and here, for instance), but economists are expecting that today’s employment report for April (due later today at 8:30am eastern) will reaffirm that moderate growth will prevail. If the crowd is wrong and labor-market growth falters—as it did in ADP’s estimate for April—the news will add more stress to an already wobbly macro trend.
Continue reading →

● US Jobless Claims Rise to Highest Level in 5 Weeks | Bloomberg
● Challenger: US job cuts accelerated in April | CNBC
● US Consumer Comfort Index falls to lowest level since Dec | Bloomberg
● US job market at a crossroads? | Reuters
● Hedge funds haven’t delivered on their promise | The Economist
● US Mortgage Rates Back Near 2016 Lows | MarketWatch
● Trump says he would likely replace Yellen once her term ends | AP