Oddbean

Why Gen Z may be skewing the employment data ========== The US added 272,000 jobs in May, higher than the estimated 180,000. The unemployment rate rose to 4.0%, but average hourly earnings increased more than expected. Deutsche Bank Securities Senior US Economist Brett Ryan believes the Federal Reserve won't cut rates until December based on these data. Ryan points out that the household survey shows a decline in employment for 20 to 24-year-olds, which may be skewing the data. The household survey is also affected by volatility and the impact of immigration. The establishment survey, which provides the nonfarm payrolls number, is more likely to capture the impact of immigration. The employment growth rate for prime age workers is positive, supporting continued consumer spending. The Fed's decision to cut rates will depend on the inflation story. #EmploymentData #FederalReserve #GenZ #UnemploymentRate #AverageHourlyEarnings #HouseholdSurvey #EstablishmentSurvey #BrettRyan https://finance.yahoo.com/video/why-gen-z-may-skewing-110002442.html