The unemployment rate is expected to inch down to 5.7% from 5.8% in May, according to analysts polled by Refinitiv.
Employers can’t hire workers fast enough, as many people continue to stay at home to care for their children or because they fear getting sick. Many who are looking for work are holding out for companies to raise pay and benefits — and some are able to be picky because of special pandemic unemployment benefits that will expire nationwide in September.
Also, everyone is hiring at the same time, making it more difficult for employers to find the right candidate for the job, Nela Richardson, chief economist at ADP, told CNN Business Wednesday.
“Limited international migration, the wave of retirements and mismatches in the labor market appear to be playing a bigger role and will last well into 2022,” said Michael Pearce, senior US economist at Capital Economics.
And there’s potential for a rapid catchup: The May job openings report showed more than 9 million positions were available in the United States that month, and as vaccination levels rise further some people may feel comfortable returning to work.
The Labor Department’s report is due at 8:30 am ET on Friday.
