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Economist: The U.S. industrial sector is experiencing a strong recovery
Mars Finance News, according to Jintiao, economist Anna Wong stated that April’s hiring performance was unexpectedly strong, but the unemployment rate rose. This combination suggests that the employment growth rate needed to keep the unemployment rate stable may be higher than the near-zero growth level previously estimated by the Federal Reserve. In the April employment report, the freight industry contributed more than half of the new jobs for the month, confirming the recent signals of improvement from PMI and regional Federal Reserve manufacturing surveys. Wong expects the Federal Reserve to likely keep interest rates unchanged until the fourth quarter, when, as the unemployment rate rises, a 50 basis point cut is anticipated.