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Is there a labor shortage? What the May jobs report tells us

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A help wanted sign is displayed outside of a business before Memorial Day near the boardwalk in Wildwood, New Jersey.

Spencer Platt | Getty Images News | Getty Images

The weaker-than-expected April jobs report fueled speculation of U.S. labor shortages and led some state officials to declare an early end to enhanced unemployment benefits.  

Yet forecasters hoping for clarity from the May tally may be left scratching their heads.

It’s hard to draw conclusions about sustained weakness or labor-supply issues from the data published Friday, according to economists. The May report offers something of a mixed bag and somewhat contradictory data points, they said.

“It’s a Rorschach test,” according…



Source cnbc.com

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