Wells Fargo Foresees U.S. Non-Farm Payrolls: Supply Constraints, High Growth Unsustainable

robot
Abstract generation in progress

Golden Finance reports that on May 8th, Wells Fargo economists stated that the U.S. labor market remains in a state of low employment and low hiring that has persisted over the past two years. Since demand for labor has hardly changed, labor supply has become a more important factor in determining the pace of employment growth. Last month, employment increased by 178k, and even considering the roughly 30k increase due to the end of strikes, this figure is unsustainable because factors such as immigration and demographic structure limit labor growth. We expect total employment to increase by 70k in April, with private sector employment rising by 75k. (Jin10)

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin