U.S. May Unemployment Rate Expected to Hold Steady at 4.3%

According to Jin10, a Bloomberg survey of economists predicts that the U.S. unemployment rate for May will remain unchanged at 4.3%. Non-farm payrolls are expected to increase by 89,000, potentially raising the three-month average employment growth to its highest level in over a year. This has sparked discussions about a sustained acceleration in hiring. Forecasters anticipate continued strength in the healthcare sector, with cyclical industries such as construction, leisure, and hospitality also expected to recover, benefiting from warm weather over the past month. Additionally, manufacturing employment may receive a boost as consumers stockpile goods in anticipation of potential price hikes due to the war in Iran.