US outstrips expectations with 272,000 jobs added in May https://t.co/aXJ5Z4ehoT
— Financial Times (@FT) June 7, 2024
Probably nothing https://t.co/Arf3av21Aj
— The Macro Guy (@SagarSinghSetia) June 7, 2024
You can't make this up:
First you say the economy added ~150K-200K jobs a month to a total ~500,000 in a quarter showing that everything is wonderful.
Then after a few months survey with millions of respondents comes and presents that job market has actually lost 200,000 jobs pic.twitter.com/wghkh0yiDv
— Global Markets Investor (@GlobalMktObserv) June 7, 2024
May full-time employment (blue) -625k (largest drop since last December); part-time employment (orange) +286k pic.twitter.com/uutR9aQzSp
— Liz Ann Sonders (@LizAnnSonders) June 7, 2024
- Nonfarm Payrolls (Establishment Survey):
- In May 2024, the U.S. economy added a robust 272,000 jobs.
- This figure exceeded expectations and signaled strength in the labor market.
- Key sectors contributing to job gains included health care, government, and leisure and hospitality.
- Unemployment Rate:
- The unemployment rate rose to 4%, marking the first time it breached that level since January 2022.
- Despite this increase, the overall job gains were substantial.
- Household Survey Data:
- The household survey, which measures labor force status, showed a different picture:
- The number of people reporting holding jobs fell by 408,000.
- This discrepancy highlights the importance of considering both establishment and household survey data.
- The household survey, which measures labor force status, showed a different picture:
Wages are too hot too. 💀 https://t.co/Mu329om6VQ
— QE Infinity (@StealthQE4) June 7, 2024
It's here . pic.twitter.com/7zqhTEGpEo
— The Great Martis (@great_martis) June 7, 2024