How fast is the U.S. recovery? Friday’s U.S. monthly jobs report will add fuel to the debate.
In April, U.S. job growth unexpectedly slowed, possibly because of shortages of workers and raw material. Non-farm payrolls added a mere 266,000 jobs compared to predictions for more than 3-1/2 times that.
Optimism over jobs has offset concerns about rising inflation and diminishing government financial support, lifting May U.S. consumer confidence to a 14-month high.
For May jobs, a Reuters poll predicts a 621,000 rise. Strong data could again raise concerns of an earlier-than-expected stimulus unwind by the Fed.