Don't Believe the June Jobs Report Hype

Takeaway: Employment growth continued to slow from its 2.3% y-o-y peak in February 2015 to 1.73% in June.

For those of you out there who actually study #TheCycle (rather than blindly accept the manic financial media's headlines at face value) here's the key chart to consider. It shows the continued slowdown in jobs growth since February 2015.

Click images to enlarge

Don't Believe the June Jobs Report Hype - nfp 7 8

Digging a little deeper than just the headline 287,000 number... May was revised down from 38,000 to 11,000. As Hedgeye CEO Keith McCullough points out, in other words...

Here's the detailed breakdown to study today. As you can see, the key takeaway is...

#EmploymentSlowing

Don't Believe the June Jobs Report Hype - employment summary 7 8