The much-watched Department of Labor’s jobs report came out today, and while it ain’t pretty, it ain’t ugly enough to make you stay home from the dance either.
125,000+ lost their job last month, more than the 110,000 predicted. Unemployment, forecast to be at 9.8%, actually fell to 9.5%. (Because the two numbers are calculated differently, it is possible for one to go up while one goes down). Only 83,000 jobs were added, but that’s double May’s numbers. The economy appears to growing, slowly, and in fits and starts.
Factory orders fell 1.4% in May, the first time in 9 months. Stock response was varied, with two stocks falling for every one that rose, but broader indexes fell overall.
Employment Situation Summary [US Department of Labor]