The bad news: Instead of creating 158,000 jobs in May, the US economy only added 38,000.
The other bad news: The jobs created for the previous two months were not as high as originally reported, down by 59,000.
The good news: Wages grew by five cents an hour, unemployment is down to 4.7% (while a bit of bad news was that job participation is also down at 62.6%).
The conclusion: If you have a job, great. If you’ve been looking, you might have to keep looking. For the economy, jobs continue to be created, but at a slowing rate which suggests, but doesn’t prove, a slowing economy.
(Click on the graph for the link.)