May's employment report clearly suggests that labour market conditions are deteriorating again, which will undoubtedly prompt more speculation that QE3is coming soon. Non-farm payrolls increased by only 69,000 in May (less than half the consensus forecast) and April's gain was revised down to a similarly lacklustre 77,000, compared with the initial estimate of a 115,000 gain.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services