Some fraying in the job market
2025/6/6
Marketplace Morning Report
C
Catcher Ada
C
Christopher Lowe
D
David Brancaccio
J
James Graham
N
Nancy Marshall-Genzer
R
Reg Levy
David Brancaccio: 五月份的招聘情况总体来说还可以，新增了13.9万个工作岗位，略高于预期。但前几个月的数据被下调了。我们需要和Christopher Lowe一起分析一下具体情况。
Christopher Lowe: 就业报告确实不算太好也不算太坏。五月份新增13.9万个工作岗位，略好于预期的12.5万个。但三月和四月的数据被下调了9万个。这意味着今年前五个月的就业增长平稳但缓慢，与去年年底相比有所下降。关税的不确定性、边境关闭、季节性因素和对外国工人的依赖导致建筑业和零售业疲软。临时工减少是不好的信号，失业率略有上升，但仍在4.2%左右。
Deep Dive
Despite an increase of 139,000 jobs in May, which was higher than anticipated, there are indicators of a potential slowdown in the job market. Sectors like healthcare and teaching showed growth, but construction and retail experienced weakness, partly due to immigration policy and tariff uncertainty. The unemployment rate is slightly up and some leading indicators show a decline in economic activity.
- 139,000 jobs added in May (slightly better than expected)
- Downward revision of 90,000 jobs for March and April
- Weakness in construction and retail sectors due to immigration policy and tariff uncertainty
- Negative growth in business services and temp workers (leading indicator of slowdown)
- Slight increase in unemployment rate
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