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MNI BRIEF: St. Louis Fed Model Sees 'Very Strong' June Jobs

(MNI) Washington

The Fed bank's Coincident Employment Index shows a seasonally adjusted employment gain of 500,000.

U.S. employment likely rose by a solid 500,000 in June, according to a real-time labor market index from the Federal Reserve Bank of St. Louis, economist Max Dvorkin told MNI.

The Coincident Employment Index, using weekly data from time-tracker software provider Homebase, "continues its upward path and this suggests a very strong jobs report for June," Dvorkin said. The forecast for household survey employment is an increase of around 500,000 seasonally adjusted and a bit over 1 million employed people in unadjusted terms.

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U.S. employment likely rose by a solid 500,000 in June, according to a real-time labor market index from the Federal Reserve Bank of St. Louis, economist Max Dvorkin told MNI.

The Coincident Employment Index, using weekly data from time-tracker software provider Homebase, "continues its upward path and this suggests a very strong jobs report for June," Dvorkin said. The forecast for household survey employment is an increase of around 500,000 seasonally adjusted and a bit over 1 million employed people in unadjusted terms.

Keep reading...Show less