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MNI INTERVIEW: Hot US Job Market Seen As New Normal - LinkUp

MNI speaks to CEO of employment data firm LinkUp about the labor market outlook.

U.S. job growth appears to have slowed in May but the labor market and wages are likely to remain too hot this year for the Federal Reserve, preventing it from lowering borrowing costs, Toby Dayton, head of job market data firm LinkUp, told MNI.

"We're going to see the job numbers coming in a little bit softer than they were in April," he said in an interview, forecasting a below-consensus 125,000 jobs in May. But he expects a pick-up in job growth in June and continued strong wages through the year.

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U.S. job growth appears to have slowed in May but the labor market and wages are likely to remain too hot this year for the Federal Reserve, preventing it from lowering borrowing costs, Toby Dayton, head of job market data firm LinkUp, told MNI.

"We're going to see the job numbers coming in a little bit softer than they were in April," he said in an interview, forecasting a below-consensus 125,000 jobs in May. But he expects a pick-up in job growth in June and continued strong wages through the year.

Keep reading...Show less