The U.S. labor market showed its continued resilience added more jobs than expected in May. There were 339,000 Nonfarm Payroll jobs added, ahead of the consensus estimate for 190K. There were expectations of a positive beat with May ADP employment at 278,000 (consensus 170,000). This is the 15th consecutive report that has beaten the economist consensus. Unemployment rate 3.7% vs 3.5% expected and highest since October 2022. The May report is sparking selling in Treasurys, sending yields higher. The resiliency … Continue reading Robust U.S. Economy Added 339,000 Jobs in May, Unemployment Rose 3.7% From 3.4%