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|1st Woman Fed Reserve Chair|
YTD so far these many weeks markets were up (Bull picture shown), down (Bear picture), or draw (Bull/Bear picture) …
Bulls (Markets UP) =14…
Bears (DOWN) = 08… and Draw = 0
The debt ceiling issue gets resolved – markets shoot up on Friday, and up for the week
Better than expected May job report surprises many
The U.S. Labor Department reported that in May +339,000 jobs were added. This was the 29th straight monthly gain! So far, the US has created less than 1.6 million jobs in 2023. The US added 4.5 million jobs in 2022.
Unemployment rate jumped in May to 3.7% (April was 3.4%, March was 3.5%, Feb was 3.6%), but still very low by many standards.
Hourly wages slowed slightly to 4.3% annually (was +4.4% in April, +4.2% in March, +4.6% in Feb, +4.4% Jan; +4.6% in Dec; +5.1% in Nov). The wages are coming down slowly, however, it remains a major concern for the Feds for reducing the still high inflation.
The labor participation remained flat at 62.6% (Was 62.6 in April and March, 62.5% in Feb, 62.4% in Jan; 62.3% in Dec and 62.1% in Nov). It is still below the pandemic level of 63.4%.
Source – NY Times
Sources: Multiple, Bloomberg, CNBC, CNN, Yahoo, Google, NY Times, BLS, US Government, CIA handbook,…Select other sources
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