May Jobs Report

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?



Leisure and hospitality led gains, followed by professional and business services then warehousing and transportation.

So, are these jobs that were “created”, or jobs that have been open for months and pay offers finally got to a point where students decided to take them, rather than spend the summer on the beach?