May jobs report expected to show slower U.S. hiring

The U.S. Bureau of Labor Statistics is set to release the May nonfarm payrolls report on Friday, and economists expect a weaker pace of hiring than earlier in the year. The Dow Jones consensus is for about 80,000 jobs added, down from an average of 150,000 over the previous two months. Some economists say the report may reflect a labor market that is cooling after earlier weatherrelated strength. Forecasts from Wall Street firms range from roughly 20,000 to 60,000 jobs, with the unemployment rate expected to stay near 4.3% or edge slightly higher. The article also points to signs of softer labor demand, including an increase in planned layoffs in May and a rise in jobless claims. If the report matches expectations, analysts say it is likely to keep the Federal Reserve on hold at its June meeting, with markets seeing little chance of an immediate policy move.