559,000 Jobs . That's what we added in the merry month of May and it's a bit less than the 675,000 expected but still some pretty healthy growth so we can expect the market to react well since it's not a good enough number to get the Fed to tighten but it's not a bad enough number to indicate the economy is stalling, a very Goldilocks way to end the month . Unfortunately, we still have 10M jobs to fill so filling them at a rate of 559,000/month (with a population growing at 150,000/month) means it will take us about 2 years to really get the economy back to normal. Meanwhile, it should be noted that Hourly Earnings rose 0.5%, hotter than 0.2% expected by people who obviously aren't paying attention but nowhere near enough to keep up with inflation so real income is still woefully shy of where it was in 2019 – yet people continue to over-bet on the economic recovery. IN PROGRESS
559,000 Jobs.
That's what we added in the merry month of May and it's a bit less than the 675,000 expected but still some pretty healthy growth so we can expect the market to react well since it's not a good enough number to get the Fed to tighten but it's not a bad enough number to indicate the economy is stalling, a very Goldilocks way to end the month.
Unfortunately, we still have 10M jobs to fill so filling them at a rate of 559,000/month (with a population growing at 150,000/month) means it will take us about 2 years to really get the economy back to normal. Meanwhile, it should be noted that Hourly Earnings rose 0.5%, hotter than 0.2% expected by people who obviously aren't paying attention but nowhere near enough to keep up with inflation so real income is still woefully shy of where it was in 2019 – yet people continue to over-bet on the economic recovery.
IN PROGRESS
