May Jobs Report

#Jobs — Again lower than expectations, but a strong improvement on April’s disappointment. Restaurants added almost 1 in every 3 of the new jobs. Still 7.6 million jobs lower than before pandemic.

Gain of +559,000 non-farm payroll jobs, vs. expected gain of 671K.
Unemployment at 5.8%, down by 0.3
U6 unemployment at 10.2%, down by 0.2
Labor force participation 61.6%, down by 0.1
Average Hourly Earnings up 0.5%

March revised up by +15K to +785K
April jobs revised up by +12K to +266K