The U.S. economy is expected to have added 180,000 new jobs in April, according to consensus estimates. If the forecasts are accurate, this would represent the smallest monthly gain since December 2019.
In recent weeks, signals have indicated that the national labor market is beginning to cool off, a moderating trend that would please an inflation-fighting Federal Reserve.
“There are some signs that supply and demand in the labor market are coming back into better balance,” Fed Chair Jerome Powell told reporters during the post-Federal Open Market Committee (FOMC) policy meeting press conference on May 3.
After two strong months of employment gains, the March non-farm payroll (NFP) report confirmed the fewest new jobs since December 2020, as higher borrowing costs and price pressures weighed on employers….