June payrolls are likely to remain robust, but there are downside risks, Bank of America economists write. They expect Thursday's report to show 110,000 jobs added, a slowdown from May's 172,000, but still a healthy pace. BofA forecasts the unemployment rate steady at 4.3%. The economists warn that "May's surge in leisure [and] hospitality may have been driven by the World Cup or Memorial Day timing, and if it was the latter, June could see payback." A strong report "would likely move markets closer to our call for three hikes," this year, the economists say. WSJ consensus calls for a 118,000 growth in June payrolls. (paulo.trevisani@wsj.com; @ptrevisani)
Dow Jones Newswires
Payrolls Expected to Remain Robust, Unemployment Rate Steady — Market Talk
- Sources
- Dow Jones Newswires
- Markets
- Economy
- Language
- English
June payrolls are likely to remain robust, but there are downside risks, Bank of America economists write. They expect Thursday's report to show 110,000 jobs added, a slowdown from May's 172,000, but still a healthy pace. BofA forecasts the unemployment rate steady at 4.3%. The economists warn that…