Juicy Jobs

The economy created 390,000 jobs in May, the labor force participation rate recovered half of April’s decline, rising from 62.2% to 62.3%, and the female labor force participation rate hit a post-Covid high of 57%! Because the labor force grew by 330,000, the unemployment rate remained unchanged at 3.6%, and wage growth continued to slightly cool. This keeps the Fed on target to raise rates 50bps in June and July.