What You Need to Know About the May Jobs Report

From US News & World Report …

A flurry of conditionals has couched their “flickers of hope” and “green shoots,” but government officials may finally have their chance to speak with unobscured optimism.

The Labor Department reported Friday that employers cut 345,000 jobs from their payrolls last month, a bad sign in nearly any economy but this one, where average job losses have been twice that for the past six months. The losses reported are a full third less than economists had expected. Even job losses for the past two months were revised down by a total of 82,000 jobs. The unemployment rate, meanwhile, skipped higher to hit 9.4 percent for the month.

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