Thanks to Wikicommons.
We have some bad news for you. Brace yourself here it comes:
US payrolls GREW by 431,000 in May.
Bad news? that sounds like good news!?! Well it’s not good news… as economists expected 540,000 new jobs.
But wait, there is more. Free Exhange, a blog brought to you by The Economist, notes:
Most of that big figure—fully 411,000 jobs—is attributable to temporary census hiring. The underlying employment trend looks quite weak. Private employment rose by just 41,000 in May, down from an increase of over 200,000 in April.
As shown by a drop in stock markets, after the job report was released, people are worried about unemployment.
However, not everyone is worried. Dian Chu, writing for Zero Hedge, makes the reasonable point that
the big picture of the employment trend needs to be the key takeaway from the latest jobs report
…
Overall, the labor market is trending in the positive direction. Smart investors would focus on the fact that the US economy is improving vs. three months ago
So what should be the takeaway from last month’s job data? We have no idea (we’re bloggers not geniuses). That’s why we’re turning to you our readers. Maybe if we all put our heads together we can find the answer. Or maybe we’ll end up getting no where. Either way it should be an interesting discussion.
