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Feds Can’t Raise Rates Now



Feds Can't Raise Rates Now

Feds Can't Raise Rates Now

Hiring the past few months was weaker than expected, and May was no different. 

The non-farm payroll numbers came out this morning and looked abysmal.

The United States created only 38,000 new jobs in May, compared to the 162,000 that were originally anticipated.

may job growth

38,000 new jobs is the lowest number the economy has seen since 2010.

However, the unemployment rate fell to 4.7% from 5%.

This is the lowest since the Great Recession started in December of 2007.

458,000 people left the labor face, and the labor-force participation fell to 62.6%.

Average hourly wages rose .2% to $25.59 while hourly pay rose 2.5% over the past year.
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This brings up the question of whether or not the Federal Reserve will be able to raise interest rates in June.

It will be hard for the Fed to justify a rate raise with the shockingly weak jobs report.

But, they could still raise rates at the July meeting if the next jobs report shows May's numbers to be a “one off” event and not a new trend. 

The Feds are split on the issue as low interest rates are helping the economy, but others are concerned about inflation becoming an issue in the future. 


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