November 17, 2021

Economists see accelerating US job growth in May payrolls data

US job creation is expected to have accelerated sharply last month, a potential sign of easing labour market mismatches that have cast clouds over America’s economic rebound.

The median forecast of surveyed economists pointed to an increase in employment of 650,000 for the month of May, sharply higher than the 266,000 positions created in April, according to Refinitiv. The non-farm payrolls data are due at 8.30am US eastern daylight time on Friday.

The figures will be released at a pivotal moment for the US economy, with growth rebounding strongly thanks to the lifting of pandemic restrictions across the country and hefty fiscal stimulus, while triggering a burst of inflation.

Meanwhile, businesses have been complaining that they are struggling to rehire workers to cope with surging demand, prompting them to raise wages in a bid to attract new employees. 


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