Market Week: June 05, 2023
The May employment report showed a net creation of 339,000 jobs, above expectations and an uptick compared to April’s 264,000. Some signs of softness included a move higher of 0.3% in the unemployment rate to 3.7%. In addition, wage growth eased to 0.3% m/m, bringing the year-over-year rate down to 4.3%.