June Jobs

While the 38,000 net jobs created in May was lousy news, a July rate rise is still possible if the June employment number is good, there are upward revisions to prior months and the UK doesn’t exit the EU. Moreover, the economy needs to produce only 80,000 jobs/month, down from over 200,000 jobs/month not that long ago, to absorb all new job market entrants as so many Boomers are retiring.