The Jobs Report – May 2020

What you need to know…

1. “Small” miss on May payrolls of “only” 10mm by economic forecasters as rehiring started earlier and was stronger than jobless claims would have suggested.
2. Not one of the 78 economists surveyed by Bloomberg had the economy ADDING jobs in May.
3. Ranges were for lob losses of -800k to -12mm!
4. Most sectors of the economy added jobs with the hardest hit, Leisure & Hospitality and Retail, contributing the lion’s share.
5. The unemployment rate dropped to 13.3% from 14.7% in April and beat the 19% consensus from surveyed economists.
6. The probability of a V or U shaped recovery has definitely increased this morning.

Below is a link to the full statistical summary provided by the Bureau of Labor Statistics:*

http://www.bls.gov/news.release/empsit.b.htm

*The information contained herein has been prepared from sources believed to be reliable but is not guaranteed and is not a complete summary or statement of all available data nor is it considered an offer to buy or sell any securities referred to herein. Links included herein are to unaffiliated third party sites. The Firm cannot verify or guarantee the accuracy of any information presented therein. By clicking on these links, the reader understands and acknowledges they are leaving Ziegler Capital Management’s web page.