The U.S. economy added only 75,000 jobs in May. Does that lend credence to the likelihood that the Federal Reserve is preparing for a rate in the near term? RSM US Chief Economist Joe Brusuelas weighs in on this podcast with the Wall Street Journal’s Charlie Turner on Friday, June 7.
“The weakness in goods-producing and manufacturing (jobs) has now spilled over into the service sector,” Brusuelas said. “When you take into account the downward revisions in March and Apirl, the net gain this month was zero.” He adds: “You’re seeing pretty steep downward trends in global economic growth.”