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May Jobs Report Surprises as Economy Continues Tumbling 

The following article, May Jobs Report Surprises as Economy Continues Tumbling , was first published on Flag And Cross.

At this point, given the qualifiers and the quantifiers, our nation should be booming.

We are chronologically smack-dab in the sweet spot of pandemic recovery, where business are largely operating at pre-COVID capacities, travel bookings are rising, and Americans have plenty of options for getting back to work.  Yet still, for some reason, our economy continues to spiral out of control.

And that’s even with a rather spectacular May jobs report.

The U.S. economy added 390,000 jobs in May and the unemployment rate held steady at 3.6 percent, the Department of Labor said Friday.

Economists had expected the economy to add 323,000 jobs and the unemployment rate to tick down to 3.5 percent from 3.6 percent. The range of forecasts by economists surveyed by Econoday was between a gain of 250,000 to 370,000.

The data has arrived the same week that Biden administration began what appears to be their apology tour, with various government officials finally admitting that they botched the baby formula crisis and completely miscalculated inflation.

The President himself has suggested that there is still plenty of work left to be done to get the economy back to where it ought to be, but one has to wonder just who has work left to do when the jobs report looks like this.

Continue reading: May Jobs Report Surprises as Economy Continues Tumbling  ...

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