May Job Report Expects 80,000 Jobs Added Amid Stagnation

The May jobs report is anticipated to show that only 80,000 jobs were added, a decrease from the average of 150,000 in the previous two months, including 115,000 in April. The unemployment rate is expected to remain at 4.3%, but recent data shows a 16% increase in planned layoffs, totaling 97,006 in May, the highest since 2020. Concerns are raised regarding job openings, which are increasing, but the number of quits is at its lowest since August 2020. Analysts have varying forecasts, with Goldman Sachs predicting 60,000 jobs and Vanguard forecasting just 20,000.