Weakening economy and high interest rates push businesses to rein in hiring
Hard-hit sectors likely to feel the brunt of a decline in cheap labour
Jobless claims for the week ending May 25 rose by 3,000 to 219,000, up from 216,000 the week before
Labour-related concerns increase, but sentiment improves regardless
Wages, housing costs stoking price pressures in services
Robust job market is keeping delinquencies low for now
However, ranks of unemployed women grew in the month
The April employment gain was the largest monthly increase since January 2023
Protectionism has negative implications for output, employment and inflation
The resilient strength of the job market and overall economy has kept inflation above the Fed’s 2% target