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All eyes will be on the May jobs report when it comes out Friday morning as investors look for clues about the labor market's health in the face of higher interest rates, stubborn inflation and recession fears.
The Labor Department's high-stakes May payroll report is projected to show that hiring increased by 190,000 last month and that the unemployment rate inched higher to 3.5%, according to a median estimate by Refinitiv economists.
That would mark a drop from the 253,000 gain in April and the 290,000 monthly average recorded over the previous six months. However, it is slightly above the average pre-pandemic monthly increase.
"In the last few months, the job market has continued to defy gravity, adding a steady clip of jobs and holding unemployment at historically low levels despite a backdrop of rising interest rates, banking turmoil, tech layoffs and debt ceiling negotiations," said Daniel Zhao, senior economist Glassdoor. "After a healthy April jobs report, May is likely to repeat with an equally strong performance."
MAJORITY OF WORKERS REGRET QUITTING DURING ‘GREAT RESIGNATION
The Federal Reserve is closely watching the report for evidence that the labor market is finally softening after months of surprisingly healthy job gains as policymakers try to wrestle inflation under control. Although the Consumer Price Index has cooled from a peak of 9.1% in June 2022, it remains about three times higher than the pre-pandemic average despite 10 consecutive interest-rate hikes.
Policymakers have signaled that they may skip another rate hike at their meeting later in June as they examine how tighter monetary policy is affecting the economy. However, some officials have hinted they are open to raising rates for the 11th straight time.
THE HOUSING RECESSION ISN'T OVER YET
"The May jobs report will take on heightened importance given the Fed’s extreme data-dependent approach and the growing divide among Fed policymakers over whether to pause their rate-hiking campaign in June," said Gregory Daco, EY chief economist.
Hotter-than-expected job and wage data on Friday could be a worrisome sign for the U.S. central bank.
The Labor Department’s May payroll report is projected to show that hiring increased by 190,000 last month and that the unemployment rate inched higher to 3.5%. (Michael M. Santiago/Getty Images / Getty Images)
"Overall, the May jobs report should still argue in favor of a Fed pause at the upcoming June FOMC (Federal Open Market Committee) meeting," Daco said. "Still, hawkish Fed commentary and excessive data dependence mean that a hotter-than-expected jobs report could push the small majority of policymakers in favor of a ‘hawkish pause’ to join those favoring another rate hike."
The labor market has remained historically tight over the past year, defying economists' expectations for a slowdown.
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A separate report released Wednesday showed that job openings unexpectedly surged to 10.1 million in April, the highest level in three months. Before the COVID-19 pandemic began in early 2020, the highest on record was 7.6 million. There are still roughly 1.6 jobs per unemployed American.
The report also pointed to a decline in layoffs and discharges, indicating that employers are holding onto their workers in the competitive labor market.
David Lammy has confirmed there will be an independent investigation into the accidental release of a migrant jailed for sex offences, as he blamed “human error” for the incident.
The deputy prime minister and justice secretary told MPs he was “livid” on behalf of Hadush Kebatu’s victims and he would be deported back to Ethiopia “as quickly as possible”.
Kebatu, who was found guilty in September of sexually assaulting a 14-year-old girl and a woman in Epping, was freed in error from HMP Chelmsford in Essex on Friday instead of being handed over to immigration officials for deportation.
Image: Migrant sex offender found and arrested after manhunt
His accidental release sparked widespread alarm and a manhunt that resulted in him being found and arrested by the Metropolitan Police in the Finsbury Park area of London at around 8.30am on Sunday.
Addressing MPs in the House of Commons, Mr Lammy said the mistake should not have happened as he sought to lay part of the blame on to the Conservatives over the state of the prison system over the past 14 years.
He said “there must and there will be accountability” for the mistaken release of Kebatu from prison.
“I’ve been clear from the outset that a mistake of this nature is unacceptable,” he said.
“We must get to the bottom of what happened and take immediate action to try and prevent similar releases in error to protect the public from harm.”
Mr Lammy said he ordered an “urgent review” into the checks that take place when an offender is released from prison, and new safeguards have been added that amount to the “strongest release checks that have ever been in place”.
The justice secretary said the investigation would be led by former Metropolitan Police deputy commissioner Dame Lynne Owens, who also used to lead the National Crime Agency.
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11:12
Witness describes confusion outside prison
He also said the investigation would have the same status as high-profile probes into other prison incidents, including the attack on three prison officers at HMP Franklin in April of this year and the escape of Daniel Khalife from HMP Wandsworth in 2023.
‘Calamity Lammy’
Shadow justice secretary Robert Jenrick referred to a report by Sky News which detailed how a witness present at the prison observed Kebatu appearing “confused” upon his release.
The witness said Kebatu had in fact tried to go back into the prison several times, but was instead guided to Chelmsford station, where he caught a train to London.
Mr Jenrick claimed the case was proof “the only illegal migrants this government are stopping are those that actually want to leave the UK”.
“Dear oh dear,” he said. “Where to begin? This justice secretary could not deport the only small boat migrant who wanted – no – who tried to be deported.
“Having been mistakenly released, Hadush Kebatu came back to prison asking to be deported not once, not twice, but five times, but he was turned away.”
He went on: “The only illegal migrants this government are stopping are those that actually want to leave the UK.
“His officials, briefing the press, called it the mother of all – yeah, they’re not wrong, are they?”
Mr Jenrick, who served as immigration minister under the previous Conservative government, branded his opposite number “calamity Lammy”.
“It’s a national embarrassment and today the justice secretary feigns anger at what happened.”
Continuing with his attack, Mr Jenrick asked Mr Lammy whether he would resign if Kebatu was not deported “by the end of the week” – to which he received no reply.
But asked later by an MP whether he was considering his position, Mr Lammy replied: “A ridiculous question, the answer is no.”
The new checks announced by Mr Lammy on Monday involve five pages of instructions and require more senior prison staff to sign off a release, according to documents obtained by Sky News.
LOS ANGELES — The game that had everything ended at 11:50 p.m. PT on Monday. For the previous 6 hours, 39 minutes, Game 3 of the World Series played out like a fantastical dreamscape of baseball, filled with tension and drama and madness. It was a game unlikely any before, never to be repeated again, and when the 18th inning ended and the Los Angeles Dodgers had beaten the Toronto Blue Jays 6-5, it was, in a way, a relief, because holding your breath for hours on end is not a sustainable way to live.
Such is the price we pay for an affair like Game 3. The Dodgers and Blue Jays competed at an exceptional level in the longest game in World Series history by innings and second-longest by time. They punched and counterpunched, emptied their benches and bullpens. They executed with wizardry and found pieces of themselves they didn’t know existed. And in the 18th inning, it was Freddie Freeman, already the hero of last year’s World Series, who deposited a center-cut sinker from Brendon Little over the center-field fence 406 feet away.
There have been 703 games played in the 121-year history of the World Series. While there are certainly competitors, this one launched itself into the upper echelon, undoubtedly elite, and left the 52,654 fans at Dodger Stadium as giddy as they were almost seven years to the day earlier, when the only other 18-inning game in World Series history ended the same way: with a Dodgers walk-off homer.
Game 3 of the World Series featured…
609 pitches (LAD: 312, TOR: 297) 37 runners left on base 25 position players used 19 pitchers used pic.twitter.com/MBHReOJ16x
The heroes were plentiful, and in the aftermath of the lunacy, one of them stood in the Dodgers’ clubhouse, still trying to process what happened. Will Klein, the last man out of the Dodgers’ bullpen, a reliever who had topped out this year at two innings and 30 pitches, threw four innings of one-hit ball and struck out five on 72 pitches. The last of them, an 86 mph curveball, induced a swing and miss from Tyler Heineman and a scream from Klein, who understood what had been asked of him and knew he’d delivered.
Games don’t become classics without efforts like Klein’s — and he had an admirer who wanted to acknowledge that. Into the Dodgers’ clubhouse strode Sandy Koufax, his eminence of Dodgers pitching, who, at 89 years old, looked no worse for the wear at 12:48 a.m. Koufax walked up to Klein, stuck out his hand, looked him in the eyes and said: “Nice going.”
This was that kind of game, the one that forges bonds between a Hall of Famer and a man with 22.2 career major league innings who didn’t make the Dodgers’ roster in any of the previous three rounds of the postseason. The kind of game that prompted Klein to unlock his phone just to see how many messages he had, only for him to scroll … and keep scrolling … and keep scrolling to the point he just stopped. The kind of game that made Klein marvel to a friend in the clubhouse: “Seventy-two. Can you believe it?”
Game 3 was anarchy, a funhouse mirror of a ballgame, everything out of order. Shohei Ohtani‘s magnificence is never in question, but to see a baseball player reach nine times, something that had been done only twice in big league history — never in the postseason and not since 1942 — still registered as incredible, his magnitude lording over the game from beginning to end. He led off the game for the Dodgers with a double. He homered his next time up. He doubled again. He homered once more, his second of the game, his eighth of the postseason, to tie the game at 5 and unleash the chaos to come.
At that point, Blue Jays manager John Schneider had seen enough. In the ninth inning, Ohtani became the first hitter intentionally walked with the bases empty in the ninth inning or later of a postseason game. The next three times he came to the plate — twice with the bases empty — Schneider held up four fingers and gladly gave Ohtani a free pass. In the 17th, with a runner on first, the Blue Jays opted to pitch to him — and Brendon Little promptly deposited four balls nowhere near the strike zone. (Schneider said after the game to expect more tiptoeing around Ohtani in the days to come.)
Schneider’s decision-making earlier in the game, in which he tried to scratch across runs by substituting in a cadre of pinch runners, left the Blue Jays’ lineup compromised for most of the second half of the game. Against a Dodgers bullpen that had been a sieve for most of the postseason, Toronto managed just one run in 13⅓ innings. Los Angeles used 10 pitchers — including Clayton Kershaw, the future Hall of Famer. Kershaw came on in the 13th with the bases loaded, ground through a nine-pitch at-bat against Nathan Lukes and induced a dribbler to second base that Tommy Edman scooped with his glove to Freeman.
Memorable moments abounded over the game that featured 615 pitches, the most in a postseason game since MLB began tracking pitches in 1988. In the 14th, Will Smith lofted a fly ball to center field and dropped his bat, thinking it was a game winner. The ball died on the warning track. Teoscar Hernández, who, like Ohtani, had four hits, did the same in the 16th. It wound up in a glove, too.
By that point, Klein had arrived and set about pulling a modern-day Nathan Eovaldi, who went 97 pitches over the final six innings of the 2018 marathon. In Klein’s final inning, Yoshinobu Yamamoto — who had thrown a 105-pitch complete game two days prior — was warming up in the bullpen. Klein walked two batters. Dodgers manager Dave Roberts could have easily gone to Yamamoto. He stuck with Klein.
Klein just did it, because he had to, and that, as much as anything, is the lesson of an evening like Game 3, when a great game — which this was for the first dozen or so innings — evolves into something different altogether. Game 3 was a test. Of endurance and will — or, as it were, Will.
“You just got to either do it or you don’t,” said Dodgers reliever Justin Wrobleski, who spent time with Klein at AAA this season. “You go out there and you’re like, ‘I know what has to be done here and let’s see what I got.’ I like moments like that because it’s a test of your character. More than that, it’s a test of everything else.”
Klein passed. And Freeman, of course, is the valedictorian of such moments, one of the clutch kings of his generation. He had struggled much of the postseason, entering the game with only one RBI in the Dodgers’ previous dozen playoff games. His first two in this World Series had looked a far cry from his performance last year, when, nursing a number of injuries, he hit a walk-off grand slam in Game 1 and won series MVP. It wasn’t just the lack of production. He wasn’t hitting the ball particularly hard, either.
On the final pitch, he finally did. This is the kind of thing that happens in 18-inning games. They are uncomfortable and scary and can end with the crack of a bat. It is terrifying. It is beautiful. It is everything.
Those lucky enough to bear witness will never forget it, either. They squirmed and flinched and closed their eyes and prayed and squealed and cringed and, in the end, saw 31 hits and 37 runners left on base and 19 pitchers and one particularly majestic swing that, 10 minutes shy of Monday turning into Tuesday, ended one of the best World Series games ever — and gave the Dodgers a 2-1 advantage in this year’s series.
Klein isn’t sure how his arm will feel by the time he returns to the ballpark Tuesday for Game 4. Typically, he said, he’s a Day 2 guy, the soreness not coming until the second day after an outing. After being lavished with praise from his teammates and thanked by Sandy Koufax and written into the annals of Dodgers history, though, tomorrow and the next day wasn’t of much concern.
“I feel great right now,” he said, and with good reason. He was the winning pitcher, the stopper, the MVP of the night every bit as much as Freeman and Ohtani, and the adrenaline rush numbed whatever pain will eventually arrive. That’s for another day. This was everything — and more.
LOS ANGELES — Freddie Freeman homered leading off the bottom of the 18th inning, Shohei Ohtani went deep twice in another record-setting performance and the Los Angeles Dodgers outlasted the Toronto Blue Jays6-5 in Game 3 on Monday night to win a World Series classic.
The defending champion Dodgers took a 2-1 Series lead, and they still have a chance to win the title at home — something they haven’t done since 1963.
Freeman connected off left-hander Brendon Little, sending a 406-foot drive to straightaway center field to finally end a game that lasted 6 hours, 39 minutes, and matched the longest by innings in postseason history.
The only other Series contest to go 18 innings was Game 3 at Dodger Stadium seven years ago. Freeman’s current teammate, Max Muncy, won that one with a homer against the Boston Red Sox.
It was Freeman’s second World Series walk-off homer in two years. The star first baseman hit the first game-ending grand slam in Series history to win Game 1 last season against the New York Yankees.
Will Klein, the last reliever left in the Dodgers’ bullpen, got the biggest win of his career. He allowed one hit over four shutout innings and threw 72 pitches — twice as many as his previous high in the majors.
As the hours crept by, Vladimir Guerrero Jr. munched on an apple at the dugout railing. A staffer brought a fruit tray into the dugout, and the Toronto slugger helped himself to another piece.
Most of the 52,654 fans who stuck around were on their feet deep into the night — including 89-year-old Hall of Famer Sandy Koufax — and only sat in between innings.
Will Smith flied out to the left-center fence leading off the bottom of the 14th. Long drives by Freeman and teammate Teoscar Hernandez also died on the warning track with the temperature dropping in Chavez Ravine as the evening grew late.
Ohtani’s second solo homer tied it 5-all in the seventh. The two-way superstar also doubled twice to became the second player with four extra-base hits in a World Series game. Frank Isbell had four doubles for the Chicago White Sox in Game 5 against the Chicago Cubs in 1906.
After getting four hits in the first seven innings, Ohtani drew five consecutive walks — four intentional. That made him the first major leaguer in 83 years to reach base safely nine times in a game. Nobody else has even done it seven times in a postseason game.
“What matters the most is we won,” Ohtani said through his interpreter. “And what I accomplished today is in the context of this game, and what matters the most is we flip the page and play the next game.”
Freeman’s latest clutch homer cleared the fence just over 17 hours before Ohtani will make his first World Series start on the mound when he pitches in Game 4 on Tuesday night.
“I want to go to sleep as soon as possible so I can get ready,” a smiling Ohtani said.