Employment Change May: -4.8K
- expected 10.0K, prior is +10.3K, revised down from 14.2K
Unemployment Rate May: 5.8%
- expected 5.8%, prior 5.8%
Full Time Employment Change May, +22.2K
- prior was 13.8K, revised down from 14.2K
Part Time Employment Change May, -27.0K
- prior was -3.6K, revised down from 0.0K
Participation Rate May, 64.6%
- expected is 64.7%, prior was 64.7%
–
- The headline is well below expected, but it will be tempered somewhat by the increase in full-time jobs
- And, on the other hand, the participation rate has declined a touch, so cause for concern there
- Rise in hours worked
- The headlines have started about the ‘shock’ fall. But, hey, it’s a volatile series, and see my point #1 (well, the first bullet point)
- Note the revisions are painting a slightly worse picture too
