Slower Job Growth, but Tighter Labor Market
June 3, 2016 | The Conference BoardEstimated reading time: 1 minute
Following a 123,000 job gain in April, the economy generated just 38,000 jobs in May. We expected job growth to slow, but not that much. This weak payroll report may well deter the Fed from raising rates this summer. The weakness in job growth in May was across many industries, and especially noticeable was the large drop (21,000) in the temporary help industry.
Given the drop in corporate profits and investment in recent quarters, it was surprising that job growth held up so well until now. But even though the days of 200,000 plus average monthly job growth are probably over in this expansion, we don’t expect job growth to remain below 100,000.
Another surprise in today’s report was the drop in the unemployment rate to 4.7%, below estimates of the natural rate of unemployment. Faster wage growth is likely to partly offset the slowdown in hiring, and maintain moderate growth in household income and consumption for the rest of 2016.
About The Conference Board
The Conference Board is a global, independent business membershipand research association working in the public interest. Our mission is unique: To provide the world’s leading organizationswith the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
Suggested Items
Real Time with… IPC APEX EXPO 2024: Tools, Training, and Trends in Manufacturing Engineering
04/25/2024 | Real Time with...IPC APEX EXPOGuest Editor Kelly Dack and Product Specialist Erik Bateham of Polar Instruments discuss Polar's latest technology, including their role in aiding manufacturing engineers. They highlight the advanced capabilities of Polar's tools and the critical role of signal integrity analysis, as well as the importance of accurate modeling in board manufacturing. Polar's unique training approach and demonstration contact details are also explored.
Determining the Value-add of Box Build
04/24/2024 | Nolan Johnson, I-Connect007At a strategic level, adding box-building services makes sense for customer loyalty. But is it really that simple? Jon Schmitz, who manages customer engagement at RiverSide Integrated Solutions, talk about about what it really takes to be successful in offering EMS and final assembly services under the same company banner.
Designer’s Notebook: What Designers Need to Know About Manufacturing, Part 2
04/24/2024 | Vern Solberg -- Column: Designer's NotebookThe printed circuit board (PCB) is the primary base element for providing the interconnect platform for mounting and electrically joining electronic components. When assessing PCB design complexity, first consider the component area and board area ratio. If the surface area for the component interface is restricted, it may justify adopting multilayer or multilayer sequential buildup (SBU) PCB fabrication to enable a more efficient sub-surface circuit interconnect.
LPKF Extends Contract of CEO Klaus Fiedler until 2028
04/24/2024 | LPKFThe Supervisory Board of LPKF Laser & Electronics SE has decided to extend the contract of Dr. Klaus Fiedler as CEO until 31 December 2028. "Under the leadership of Klaus Fiedler, LPKF has undergone some extensive transformation since he joined just over 2 years ago.
IPC Design Competition Champion Crowned at IPC APEX EXPO 2024
04/24/2024 | IPCAt IPC APEX EXPO 2024 in Anaheim, California, five competitors squared off to determine who was the best of the best at PCB design.