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June 7, 2019 
5 min read
No “Groundhog Day” effect here – the May employment report was one to chew on. Slower job growth and steady unemployment late in the economic cycle would be consistent with reaching full employment, but not so much the softer wage growth and stagnant weekly hours. Beyond those two significant caveats, it’s the context and the risks that made this report such a headline-grabber, fueling expectations for the Federal Reserve to cut interest rates in the months ahead.
The Headline Numbers
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