Solid US jobs report could allay fears of weakening economy
WASHINGTON (AP) — With worries rising about trade wars and slower global growth, Friday’s jobs figures for May could serve as a reminder that the U.S. economy is still mostly in good shape.
Or, an unexpectedly weak employment report could intensify concerns that after a healthy first quarter, the U.S. economy is actually stumbling.
Economists have forecast that the government will report that employers added 185,000 jobs, a solid figure consistent with this year’s average monthly gain. The unemployment rate is expected to remain at a nearly 50-year low of 3.6%, according to data provider FactSet.
The economy is showing signs of sluggishness after having expanded at a healthy 3.1% annual rate in the April-June quarter. Consumers have been cautious about spending, and companies are scaling back investment in high-cost machinery and equipment.