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Though Stakes Are High For June’s Jobs Report, Yellen Remains Optimistic

Yellen

A lot is riding on June’s US jobs report coming out this Friday, especially after the low numbers reported in May.

May’s jobs report shocked markets, coming in well under expectations with 38,000 jobs created compared to an expected 160,000— though Fed chair Janet Yellen said during recent testimony that central banks anticipate the labor market will tighten in the coming months.

The consensus estimate for June job growth is 180,000, Bloomberg reports. “In our view, Friday’s payrolls will be even more closely watched than usual, as markets come to grips with a post-Brexit world,” Bank of America Merrill Lynch FX strategists say. [Bloomberg]