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Eye-popping payroll report due
The U.S. economy likely created more than a half million new jobs in May, but most of them were temporary workers hired to complete the once-in-a-decade Census, economists said ahead of the monthly employment report to be released on Friday. "The headline should be eye-popping," said Robert Brusca, chief economist for Fact and Opinion Economics. It's likely to be the largest monthly gain in payrolls in 27 years, but the underlying state of the economy is not nearly so strong. Economists surveyed by MarketWatch are looking for nonfarm payrolls to grow by about 540,000 in May, including about 415,000 Census workers. ... (full story)