US employment growth is improving at a steady, yet restrained pace. Manufacturing activity, however, is settling at a lower growth rate and overseas demand is weaker. Furthermore, firms have been slow to add significantly to payrolls despite the improvement in weekly jobless claims. These factors create significant downside risk for upcoming payroll numbers and mean that employment growth may slow in 3Q2013.
Please review our Dashboard – US Employment in which we assess the risks to the broader economy over upcoming months: Dashboard – US Employment Spring 2013