Surging inflation fears sent markets tumbling and Fed officials scrambling
The early data is in for the path of inflation during the first three months of 2024, and the news so far is not good.
The early data is in for the path of inflation during the first three months of 2024, and the news so far is not good.
Private payrolls increased by 164,000 for the month, a substantial rise from the downwardly revised 101,000 in November.
The U.S. unemployment rate rose overall in May, but declined for Latino workers, according to the latest nonfarm payrolls report.
Professional and business services led job creation for the month with 64,000 new hires.
Nonfarm payrolls were expected to increase by 190,000 in May, according to Dow Jones.
Economists surveyed by Dow Jones expect job growth in May of 190,000, a decline from the 253,000 in April.
The U.S. labor market posted another month of surprising strength in May as companies added jobs at a pace well above expectations.
The core personal consumption expenditures price index was expected to increase 0.3% in April, according to a Dow Jones estimate.
A U.S. recession may prevent a steep market downturn in the second half of 2023, according to Michael Yoshikami, founder and CEO of Destination Wealth...