by Mike ‘Mish’ Shedlock
Mish Talk
Initial Reaction
Today’s employment report shows an increase of 160,000 jobs, well under the Bloomberg Econoday consensus estimate of 200,000 jobs and below the entire consensus range of 175,000 to 245,000.
Revisions took April from 215,000 down to 208,000.
The household survey was far weaker than the payroll survey. Employment actually declined by 316,000, with fulltime employment down 196,000.
Let’s dive into the details in the BLS Employment Situation Summary, unofficially called the Jobs Report.