Vexing Vocation

Friday’s Employment data was puzzling. While the economy created 160,000 jobs, it was the weakest growth since 9/15 and the labor force participation rate fell from 63% to 62.8%. But Y-o-Y wage growth increased from 2.3% to 2.5%, the 4th best reading since 10/09, the number of long-term unemployed fell to its 2nd best level since 9/08, and the average workweek increased. A June rate hike remains a faint possibility.