Barnburner US Jobs Report Comes With Caveats

The US economy added far more jobs than expected in May and wage growth was brisk, Friday's hotly-anticipated nonfarm payrolls report showed. The headline print, at 272,000, blew past estimates. Consensus was 180,000. In the days ahead of the release, a string of data including another drop in job openings, a mixed read on ADP private hiring and an uptick in jobless claims, suggested the labor market was cooling. You can toss that narrative aside. For now anyway. Thanks to the big overshoot o