Preview of the June Employment Report

June Employment Preview: Payrolls Job Gains Back to Trend, Plus a Little Extra

written by Michael Lewis on July 07, 2016

From all appearances, May’s pathetic +38K payroll jobs gain was an outlier. While jobs growth was bound to decelerate from the robust +200K/month pace of the prior year, no other data support such a marked drop-off. Initial UI claims fell -16K to 254K; the improvement may be overstated by Independence Day. The four-week-average was impressive at 265K. This was the 70th straight week that claims were under the bellwether 300K mark.