Public Publication Content

A Fed-friendly employment report


Payrolls grew in April by the least in six months. The unemployment rate rounded up to 3.9%, the highest level since 2022. Wage growth moderated, a hopeful sign for softer super-core inflation. The ISM Services PMI fell below 50. Its employment component also fell, in line with cooler payrolls. Although we lean toward one Fed rate cut this year, these reports keep the possibility of two cuts on the table.

Ned Davis Research | Economics | U.S. Daily Economic Perspectives | Daily

While you wait, explore additional NDR research and solutions.

Institutional Investors

Custom Research

Wealth Managers

Stock Selection

ETF Selection

HubSpot Form for Publications