At 20:30 Beijing time on Friday, the US Bureau of Labor Statistics will release non-farm data for May, and the market expects that this report will show signs of further cooling of the US labor market. The previously released "small non-farm", Challenger company data and the US Department of Labor's latest job vacancies and labor turnover survey report all confirmed this, but did not trigger a broader decline in hiring. If the latter occurs, it may further increase people's concerns about the world's largest economy and trigger market bets that the Federal Reserve may cut interest rates as early as July.
Economists expect that the number of non-farm payrolls in the United States will increase by 185,000 in May, a slight increase from 175,000 in April; the unemployment rate will remain the same as last month at 3.9%. In addition, the average hourly wage is expected to increase by 0.3%, a slight increase from last month, and the year-on-year increase will reach 3.9%, or the same as last month.
