U.S. Added 559,000 Jobs in May, Just Short of Estimates

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With states ending the extra unemployment this and next month, we should see a large jump around August. I’ve seen so many stores with help wanted signs and restaurants are closing early since they don’t have the staff

Baykey123

I’m starting to think that no matter what the news, some number of people are going to claim that it’s a sign of inflation. The fear is overpowering reality at this point. I also think it’s a sign of disconnect between the people describing the labor market and those participating in it – specifically those lower paying jobs that employers are having trouble filling. No doubt some amount of it is government money – but there’s another thing that I haven’t seen anyone talk about yet. People HAD to figure out how to get by when they lost their 2nd job bartending. Now they are doing ok without it and have little or no incentive to go back for $9.50 an hour. Families are just getting by with less – and no amount of whip cracking and demanding the wage slaves get back to work is going to change the fact that a whole lot of people have decided that a low paying job isn’t worth the time away from their family after they spent the last 15 months so closely with them all.

OtisB

CA resident here, I honestly know several people who are in no hurry to look for work because of unemployment benefits. Just my 2c

swbat55

I am amazed that people see that report and just fully skip the 0.5% hourly earnings increase (vs 0.2% expected). How is this not a sign of inflation? How is it not obvious that the jobs miss is simply due to the workers demanding higher wages?

UpAndDownArrows

My understanding is the fed has been trying to get M2V (velocity of m2 money stock) up since 2008 but I doubt they will be able to get this up.. We live in a consumption driven economy but consumers are dying off and not reproducing enough. Also money is trickling to the top and sitting around at wealthy people who can only buy so much “stuff” I think if the fed didn’t do what they are doing then we would enter a long, cold depression. Especially if US doesn’t start making it easier to immigrate or having a lot more children. See many developed countries for what tht looks like. That sound right?

aorolecall