Tilted
..
May Non-farm payrolls: -345,000
April Non-farm payroll revision: to -504,000 from -539,000
Unemployment: 9.4% (up from 8.9% - worse since April 1983)
Average Hourly Earnings: +0.1%
The payroll number was expected to be -500,000 or more. The actual number was quite a surprise, and, combined with the upward revision for April, would seem to tell us that employment losses have peaked. The unemployment number was actually higher than expected, but that's probably indicative of more people actively looking for work.
Note to government: Okay, it's time to start focusing on INFLATION. You are asleep at the wheel - 6 months from now will be too late to shift gears.
April Non-farm payroll revision: to -504,000 from -539,000
Unemployment: 9.4% (up from 8.9% - worse since April 1983)
Average Hourly Earnings: +0.1%
The payroll number was expected to be -500,000 or more. The actual number was quite a surprise, and, combined with the upward revision for April, would seem to tell us that employment losses have peaked. The unemployment number was actually higher than expected, but that's probably indicative of more people actively looking for work.
Note to government: Okay, it's time to start focusing on INFLATION. You are asleep at the wheel - 6 months from now will be too late to shift gears.