U.S. payrolls increased 139,000 in May, more than expected; unemployment at 4.2%

[Wiz Imp]

15. One must always read to the end of the release to get the complete accurate picture of the new month's report.

Here is the last paragraph of the release.

The change in total nonfarm payroll employment for March was revised down by 65,000, from
+185,000 to +120,000, and the change for April was revised down by 30,000, from +177,000 to
+147,000. With these revisions, employment in March and April combined is 95,000 lower than
previously reported. (Monthly revisions result from additional reports received from
businesses and government agencies since the last published estimates and from the
recalculation of seasonal factors.)

So the prior 2 months estimates were reduced by a combined 95,000. Meaning the actual increase in jobs for May over the previously reported April level was just 44,000.

This is a TERRIBLE report.


Note the average monthly job gain under 4 years (48 months) of Biden was 294,000. The average monthly gain under 4 months of Trump is 127,000.

Also note this report has still yet to reflect the massive layoffs of Federal employees. Since January, this report shows Federal Government employment down by just 59,000. I don't believe this is a dishonest number from BLS, but rather a byproduct of the way that OPM reports the data to the survey. Eventually those layoffs will show up and reflect a significant loss in Government Employment.