May Jobs Report; NFP +75,000

The jobs report for May is out, and it’s not that great.

The unemployment rate stayed the same at 3.6%. Nonfarm payrolls increased by 75,000, but revisions knocked off 75,000 jobs in March and April.

The labor force participation rate is 62.8%. The U-6 rate is 7.1%.

Average hourly earnings rose six cents to $27.83. That’s up 0.2% for the month, and 3.1% in the last year.

To match the jobs-to-population ratio we had 20 years ago, we’d need 10 million more jobs. Or 15 million fewer people.

Here’s an update to one of my favorite charts. This has NFP in blue and the Russell 2000 in red.

Posted by on June 7th, 2019 at 8:34 am


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