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(Bloomberg) — Jobs week is coming up in the US, with a whole slate of indicators on the state of the labor market culminating on Friday with the government’s official report on employment for the month of May.
The median estimates in a Bloomberg survey of economists see the unemployment rate holding steady at 4.3% while payrolls rise by 89,000, an increase that would bring the three-month average to the highest in more than a year and stir chatter about a more durable acceleration in hiring.
Forecasters predict ongoing strength in the healthcare sector as well as a pickup in cyclically sensitive industries like construction, leisure and hospitality, where demand may have benefited from warm weather over the past month.
Manufacturing employment could also get a boost as customers rushed to stockpile goods in a bid to get ahead of potential price increases sparked by the Iran war. On Monday, manufacturing purchasing manager indexes from S&P Global and the Institute for Supply Management could support that thesis.
