The World Bank released its global growth forecast yesterday, offering investors an idea of what to expect for the remainder of the year. How are the global markets shaping up? Reuters covers the story. Russ Koesterich sees good news for stocks in the fact that central banks worldwide are moving in the opposite direction chosen by the Federal Reserve. The May Employment Report shows jobs returning to pre-recession levels. Just how deeply the 2008 recession cut into the job market is well illustrated in an article by Bill McBride.

World Bank Scales Back Forecast For Global Growth– The World Bank cut its projection for this year’s global economic growth to 2.8% from a January estimate of 3.2%. It cited turmoil in Ukraine and unusually severe winter weather in the U.S. The bank also lowered its U.S. growth forecast to 2.1% from 2.8%. Despite this, the U.S. economy seems to be rebounding.

The Central Bank Divide: 3 Implications For Investors– Major central banks are no longer moving in lockstep. While the Fed is pulling back, other central banks are maintaining very easy monetary policy. Russ Koesterich of BlackRock explains three implications this new dynamic has for investors.

May Employment Report: 217,000 Jobs, 6.3% Unemployment Rate–  Jobs are now back to pre-recession levels.  In this article Bill McBride shows the job losses from the start of the employment recession,  in percentage terms, compared to previous post WWII recessions.

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John R. Day, Bill Ennis, Stephanie Davidson and Matt Heller

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