Above The Trend Weekly Update 6-8-15

Kenneth McCarthy

Senior Managing Director

Phone +1 212 698-2502

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The U.S. economy added 280,000 jobs in May, continuing the bounce back from the first quarter slowdown. Since the end of 2014, the economy has added 1.1 million jobs.

Importantly, there are signs of emerging shortages of workers which are starting to put upward pressure on wages. Faster wage growth is expected be an important contributor to economic growth in 2015.