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Friday's jobs report will show whether hiring rebounded in May or slowed further from April's weaker-than-expected pace.
Data published Thursday suggests the forecasts could ring true. ADP's monthly employment report showed the US, blowing the 674,000-payroll estimate out of the water. The reading marked the strongest month of private-payroll growth since June 2020 and a fifth straight month of job additions. "It is hard to know what to make of the signal from the ADP report because it has not reliably predicted the BLS data in recent months," Daniel Silver, an economist at JPMorgan, said in a Thursday note."Declines in initial claims likely reflect improving conditions in the labor market, although other factors could also be at play."Experts are finding reasons to temper their expectations for other labor-market signals.
"All told, we see scope for decent gains in employment in May following a disappointing report in April," the team said.Federal Reserve
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