The Employment Tracker is a monthly report which provides analysis of the latest U.S. monthly labor market trends, the impact on commercial real estate and the impact on the macro economy.
Job Growth Disappoints Ahead of Fed Meeting
The good news from the latest employment report is that job growth was not as weak in May 2016 as the headline numbers suggest. The bad news is, even if the data is corrected for one-time anomalies, the U.S. economy still added the smallest number of jobs since December 2013. While the combination of a small increase in May and downward revisions for total employment in both March and April lessens the probability that the Federal Reserve will raise short-term interest rates at the next FOMC meeting, it does not take the possibility of an increase completely off the table.
Previous Employment Tracker Reports