Highlights of the US May employment report
- Change in Nonfarm payroll 2509K vs -7500K estimate. Prior month revised to -20687K vs -20537K estimate
- two month Prior month revised -642K
- Unemployment rate 13.3% vs. 19% estimate. Prior month 14.7%
- Change in private payroll 3094K vs -6750K estimate. Prior month -19724K vs. -19557K
- Change in Manufacturing jobs plus 225K vs. -400K estimate
- Average weekly hours 34.7 vs. 34.3 estimate
- Average hourly earnings MOM -1.0% vs. +1.0 estimate
- Average hourly earnings YoY 6.7% vs. 8.5% estimate
- Participation rate 60.8% vs. 60.1% estimate. Last month 60.2%
- Service sector rose by 2.4 million
- goods producing jobs increase 669K vs -2373K last month
A breakdown of the sectors shows:
- leisure and hospitality showed a gain of 1.239 million vs. -7.539 last month
- retail trade increased by 368K vs -2286K last month
- education, health increase by 424K vs -2590K last month
- business services rose by 127K vs.-2189K last month
- construction jobs rose 464K vs -995K last month
- government jobs fell -585K vs -963K last month
- financial rose 33K va -264K last month
- information-38K vs -272K last month
- Trade, transport +368K vs -3225Klast month
Surprise. Surprise.
The Dow is up 614 points. The NASDAQ is up 29 points and the S&P index is up around 50 points
