US: Slowdown in jobs growth casts doubt on the labour market - NAB

Tony Kelly, Senior Economist at NAB, suggests that the dramatic slowdown in US jobs growth in May casts doubt on the labour market.

Key Quotes

“However, partial indicators suggest GDP growth has strengthened in the June quarter.

We expect that the May employment report is an outlier. If this proves to be the case then Fed rate hikes are still likely; with July or September the most likely dates.”