by Mike ‘Mish’ Shedlock
The Street
Jobs unexpectedly soared this month and the unemployment rate took a big dip. But the BLS admitted another error.
The BLS Employment Report for May shows employment rose by 2.5 million and the unemployment rate fell to 13.3%
Initial Reaction
Both numbers are way better than the consensus.
The Bloomberg Econoday consensus jobs estimate was -7.725 million and the unemployment rate consensus was -19.8%.