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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
A few other statistics of interest in the Employment Report:
- The U-6 underemployment gauge was steady at 7.4% (same as April), still representing an uptick from earlier in the year (Dec '23 was 7.1%) and the joint-highest since November 2021, mirroring the overall unemployment rate.
- The employment-to-population ratio (Household survey) dipped to 60.1% from 60.2% prior - unrounded, that's the lowest unrounded figure since 59.9% in Nov 2022, with the labor force falling by 250k (biggest drop since Dec '23).
- Employment among the foreign-born rose 414k to 30.896m (though still below the Mar'24 high of 31.114m). with the number of native-born employed down 663k to 130.445m. Vs May 2023, those totals represent +637k (foreign) vs -229k (native-born).
- Amid the dip in 55+ labor market participation (0.2pp to 38.2%) which drove the overall unexpected dip in May: it was in turn driven by a drop in Male 55+ participation to 43.4% (43.7% prior), with female participation -0.1pp to 33.6%. That's the lowest 55+ male participation rate seen since 2005 - which will act as a constraint on labor supply, which may concern the FOMC.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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