Editor's Note: Instead of freaking out about headlines from Business Insider saying "Jobs Miss Big" read the simply put May Jobs Report analysis below written by Hedgeye CEO Keith McCullough. Spoiler alert! The U.S. labor market is actually growing.
We love that the mainstream media doesn't measure and map economic data in rate of change terms - that's how we win.
For your politically biased friends who aren't mathematically inclined, the headline +138,000 jobs created in May amounted to a +7 basis points acceleration in year-over-year jobs growth to 1.58%. Private sector jobs growth of +147,000 amounted to year-over-year jobs growth up +11 basis points for an acceleration to +1.77%.
