The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation, the Bureau of Labor Statistics reported Friday.
At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969.
An interesting dichotomy as it seems the labor market is not expecting a major recession while the labor/inflation numbers may mean higher than anticipated interest rates.
Good for the economy but bad for the stock market?
AW