Jobs beat on paper miss in reality, revisions slash 95K from March and April totals. The recession is close, but not there yet. “Don’t expect the market to go anywhere this summer,” JPMorgan has said

Once again markets are celebrating a "strong" May jobs report, with 139K jobs beating estimates by 10K, while ignoring the 95K downward revisions to the prior two months. But beneath the surface, the May jobs report, which showed even slower …

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