Friday's Jobs Report May Reveal Cooling Labor Market

The upcoming May jobs report is expected to show modest job growth and a continued low unemployment rate, potentially marking the 28th consecutive month of sub-4% unemployment, a streak not seen since the early 1950s. This aligns with the Federal Reserve's goal of achieving a "soft landing" by cooling demand and easing inflation without triggering a recession. Key trends to watch include average hourly earnings, the impact of foreign-born workers, and potential layoffs in public education.