The US non-farm payroll data, which will be released today, has always been important but this time it assumes more importance.
This is data from May – the April jobs data was much weaker than expected.
In April, US economy was expected to add 1 million jobs, but it added only 200,000 jobs, which is a small fraction of that number (1 million).
Since then there has been a slew of other numbers – labour market indicators and all of them have been very strong. So the economy, even the labour market in the US, is running very hot.
For tonight, the consensus expects the US economy to add 653,000 jobs in the month of May.
Watch the accompanying video of CNBC-TV18’s Prashant Nair for more details.