We should not be disappointed in the May hiring numbers
Segments From this episode
Which sectors saw gains in hiring during May?
It takes time to for companies to replace their workforces, said Christopher Low, chief economist at FHN Financial, and the U.S. economy is making progress. The May number, 559,000 jobs created, is more than double what a strong month looked like before the pandemic. The adds were in services, with the largest gain coming in leisure and hospitality, “almost 300,000 jobs workers added there,” Low said. He noted that the sector is still short about 2.5 million jobs compared to pre-pandemic days.
By normal standards, the May jobs report would be "phenomenal"
That’s according to Julia Coronado, founder and president of MacroPolicy Perspectives. She offers some perspective on where hiring and unemployment in the U.S. economy stand now. Coronado also explains the increases in wages for workers that we saw in May.
Department of Justice is ramping up its gathering of intelligence on cyberattacks
Marketplace’s Nova Safo has more.
