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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
Often household and payroll numbers are an early indication of a turning point in either direction
A divergence that is
My thoughts as well, given that participation is flat…
Interesting: https://www.washingtonpost.com/opinions/2023/06/02/jobs-boom-immigrants-women/