Jobs report: 280,000 jobs in May with 5.5% unemployment

Posted By on June 5, 2015

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The jobs numbers were relatively positive considering the weak growth earlier this year, but still concerning in that the post-recession job growth is not was is normally expected after a recession. Still, one positive is that we are not facing inflation or seeing numbers that would indicate the U.S. is slipping back into a recession. Job grow was “good” not “great” and a 0.3% rise in hourly wage growth for private sector workers is promising.

“It’s a tale of two economies, the economy of the unskilled, and the economy of the semiskilled and the skilled.” 
–  Robert A. Funk, Express Employment Professionals

Wall Street had a muted reaction when the numbers were released at 8:30AM after broad based weakness in stocks yesterday. Many wisely see the somewhat positive economic indicators a sign that the Federal Reserve may start tightening; most expect an autumn rate hike and almost all see U.S. interest rates rising in 2016.

Comments

Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.
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