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.
U.S. employment likely rose by 440,000 in May, according to a real-time labor market index from the Federal Reserve Bank of St. Louis, economist Max Dvorkin told MNI. That's roughly half the gains predicted by the index for a month earlier.
The Coincident Employment Index, using weekly data from time-tracker software provider Homebase, shows "an improvement in employment, as measured by the household survey," in May, Dvorkin said. Homebase users tend to be smaller firms concentrated in retail and food and accommodation services.
The index suggested a seasonally adjusted gain of close to 800,000 in April, though official figures from BLS showed a decline of 115,000 for the month. "The large forecast error may be due, in part, to the religious holiday in April and the timing in which the CPS data is collected relative to the Homebase data," Dvorkin said.
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.