US Jobs Report Is Goldilocks With Caveat

The US economy added a hefty 339,000 jobs in May, hotly-anticipated data released on Friday showed. It was the largest monthly payrolls gain since January and the second-largest since late last summer. Consensus was nowhere in the ballpark. The highest estimate from 76 economists surveyed was 250,000. I don't know why they bother, frankly. Unlike the prior month's report, revisions were meaningfully positive. The headline prints for March and April were revised higher by a combined 93,000. In

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