Jun 03

Payrolls Huge Miss: Only 38,000 Jobs Added In May; Worst Since September 2010:

If anyone was “worried” about the Verizon strike taking away 35,000 jobs from the pro forma whisper number of 200,000 with consensus expecting 160,000 jobs, or worried about a rate hike by the Fed any time soon, you can sweep all worries away: moments ago the BLS reported that in May a paltry 38,000 jobs were added, a plunge from last month’s downward revised 123K (was 160K). There is no way to spin this number as anything but atrocious.

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