Weekly Market Snapshot – May 10th, 2021
Created by: Sam Tenney
- As of Friday, May 8th, the BLS employment report posted 226,000 new jobs added. This number is far below the consensus estimates of a record 1 million+ print expected, raising concerns over the roll of government assistance in a weak employer market.¹
- Four US states, Montana, Arkansas, North Carolina, and Florida, will be ending the supplementary unemployment income benefits earlier than expected, with these states aiming to end the income benefits by the end of June. This is in reaction to large labor shortages from the businesses in these areas.²
- Corn price per bushel has reached a new 9-year high, having risen from $3 a bushel a year ago to $7.5 now, a 150% increase. Corn is a primary input to many consumer food groups, leading to speculation on further consumer cost increases.³
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