Inflation data is out at the same time, on a separate post
Overall Household Spending y/y for May, -0.1%. Soggy, but not as bad as expected and a decent sized bump higher from the previous month
- expected -0.7%, prior was -1.4%
- For the m/m result, up 0.7% (up 0.2% expected ... so at this time-frame the pick up in consumption is showing through in positive results)
Jobless Rate for May, 3.1%
- expected 2.8%, prior was 2.8%
Job-To-Applicant Ratio for May, 1.49
- expected 1.48, prior was 1.48
- 3rd consecutive month higher
- This is now at its highest since February of 1974!
Re that rise in the unemployment rate - government statements after the results saying its related to new entrants coming into the labour market, and also people changing jobs. Hmmm ... you be the judge of that comment ....
