The shift in private employment in the U.S. ends more than estimated

The change in private sector jobs in the United States was 152,000 in May, below the forecast of 173,000 and the previous revised figure of 188,000. The numbers come from research ATP Posted on Wednesday (June 5, 2024). The data comes ahead of the presentation of the payrolls jobs report on Friday (June 7). (Here completeness From Research – 39 KB)

Fewer jobs indicate that the North American economy is cooling, which could help curb inflation. As a result, expectations rise feeder (Federal Reserve) may cut interest rates in the 2nd half of 2024. At its last meeting, the US Federal Reserve kept interest rates at a range of 5.25% to 5.50%.

“Job gains slowed in May due to a sharp decline in manufacturing. Leisure and Hospitality Showed Weak Hiring”ADP said.

Sector wise change

• Production of goods: 3,000 jobs
  • Natural Resources/Mining: 9,000 jobs;
  • Construction: 32,000 jobs;
  • Manufacturing: 20,000 jobs.
• Service Delivery: 149,000 jobs
• • Trade/Transportation/Public Services 55,000 jobs;
  • Info: 7,000;
  • Financial Activities 28,000;
  • Professional/Business Services: 6,000;
  • Education/Health Services: 46,000;
  • Leisure/Hospitality: 12,000; This is
  • Other Services: 21,000.

At 9:16 a.m. (Brasilia time), Nasdaq 100 futures were up 0.59%, S&P 500 futures were up 0.33% and Dow Jones futures were up 0.21%. Ibovespa futures rose 0.10% and the dollar was down 0.43% at R$5.2623 today.

US GDP

US GDP to grow 1.3% in 1st quarter of 2024, according to new estimate BEA (Bureau of Economic Analysis) released on Thursday (May 30). The result was 0.3 percentage points lower than the 1st estimate for the period published on April 25.

According to the report, the reduction was driven by a downward revision in consumer spending. Compared to the 4th quarter of 2023, when the North American economy advanced by 3.4%, GDP decreased by 2.1 percentage points. Here it is completeness (PDF – 1 MB, in English).

with the information that Brazil investment.