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MNI Employment Insight: May'22: Softer From A Strong Base

US
  • Payrolls growth was as expected in April as it found a modestly softer pace for the second month running after booming in prior months.
  • Underlying metrics still show a very strong labour market but there were modest downside surprises in participation and unemployment rates as well as wage growth.
  • Sell side analyst reviews note mixed degrees of weakness within the report but all continue to see 50bp hikes in imminent meetings.

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