Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Not much of a “miss” here at 80K – it continues to point to the “meh” American economy we’ve been struggling with for years. Nothing horrid, nothing good. Private sector +84K, government down 4K. Not enough to keep up with the population growth but with so many Americans dropping out of the economy it keeps the unemployment rate way below what it would normally be.
April was revised down 9K, May revised up 8K.
Hours worked went up 0.1, and average hourly earnings up 0.3%.
U-6 is 14.9%.
Labor force participation rate flat at 63.8%.
QE(n) continues to be our path, just a matter of when.
As for markets, we needed an excuse to pullback – this will do just as good as any.
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