May Jobs Report +38,000
The government just released the May jobs report. The economy created only 38,000 net new jobs last month. The unemployment rate fell to 4.7%.
Revisions for March and April subtracted 59,000. Average hourly earnings rose by 0.2%.
I think this takes a June rate hike off the table.
The unemployment rate is lower now than it was in every single month from November 1973 to October 1997.
Here’s payroll employment along with the stock market.
Posted by Eddy Elfenbein on June 3rd, 2016 at 8:32 am
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Remember, it's not about the money.
It's about the goods and services you can buy with that money.
❤️“I’m always fully invested. It’s a great feeling to be caught with your pants up.” – Peter Lynch
CNN announces about 200 layoffs as it attempts to modernize business
Here's my preview of what to expect at next week's Fed meeting:
Nothing.
Any questions? OK, good. -
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Eddy Elfenbein is a Washington, DC-based speaker, portfolio manager and editor of the blog Crossing Wall Street. His 