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Downside Risk Abounds for June U.S. Employment:.

Downside Risk Abounds for June U.S. Employment: analysts expect a 160k June nonfarm payroll rise, after the disappointing 75k increase in May. Analysts see a steady jobless rate alongside gains of 0.2% for hours-worked and 0.3% for hourly earnings. Our June estimate is just below the 164k year-to-date average, and well under the 223k average in 2018. Analysts see downside risks from initial claims as auto retooling begins, and producer sentiment indicators have shown a June pull-back as well. The vehicle sector should be a drag as well, as both the assembly rate and vehicle sales take back some of their May gains.

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Publication:The Fly
Date:Jul 2, 2019
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