by Karl Denninger
The unemployment rate declined by 0.3 percentage point to 4.7 percent in May, and nonfarm payroll employment changed little (+38,000), the U.S. Bureau of Labor Statistics reported today. Employment increased in health care. Mining continued to lose jobs, and employment in information decreased due to a strike.
Not seasonally adjusted (that is, before book-cooking for political purposes and attempting to bludgeon The Fed) out of the household survey) the figures are a different matter.