Dumbfounded economists struggle to describe today’s jobs report surprise

May’s jobs numbers released by the Bureau of Labor Statistics Friday shocked economists and other labor market observers, who expected something starkly different from the 2.5 million payrolls added and lower 13.3% unemployment rate. Economists estimated that the country would lose 7.5 million jobs. The unemployment rate was expected to hit 19%. A boost in […]

Surprise jobs report adds doubt to second round

Once Washington absorbed Friday’s surprise jobs report showing a gain of 2.5 million jobs in May (after forecasts for 8 million jobs lost) many turned the question of how the news impacts the long awaited negotiations for an additional phase 4 stimulus deal....

Leisure and hospitality drive jobs numbers higher

The May jobs numbers showed an unexpected jump in payrolls as certain sectors like leisure and hospitality made a comeback that dramatically beat estimates and surprised economists and market observers. Non-farm payrolls jumped 2.509 million in May, compared to an...