USA Unemployment Rate For May 3.7% Vs 3.5% Est.; 3.4% Prior
Portfolio Pulse from Happy Mohamed
The US unemployment rate for May increased to 3.7%, higher than the estimated 3.5% and the previous month's 3.4%.
June 02, 2023 | 12:32 pm
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NEGATIVE IMPACT
The higher unemployment rate in May could negatively impact the overall market, potentially affecting the SPY ETF.
The unemployment rate is a key economic indicator that can influence market sentiment. A higher rate than expected may lead to concerns about economic growth, which could negatively impact the overall market and the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50