May jobs report better than expected but unemployment rate stays the same

The May jobs report came in better than expected. The U.S. added 390,000 jobs during the month, and the unemployment rate remained at 3.6%. But inflation is causing a change in trends of how consumers are spending their money. Kevin Gordon, senior investment research manager at Charles Schwab, joins CBS News to break down the jobs report and what it signals about the state of the economy.

#News #Unemployment

[paxundpeace]

More good news: fulltime employment went up by 730K jobs and partime employment went down by 330K jobs.
More people having fulltime jobs.

[failedcivilization]

Consider this a PSA: If you take a job at a fast food restaurant, you WILL get acne. There is NOTHING you can do to prevent it and it will NEVER go away.

[StockyDude]

If the unemployment rate is the same, then it either means that many full-time jobs were simply replaced with part-time jobs, or that people who already have jobs are taking on second jobs to afford products that became expensive due to inflation. That’s not a good sign.

[aarononeal]

CBS News needs to talk about Ecosia they are a search engine that plants tress

[paxundpeace]

Food and energy are very volatile that's why the fed is excluding them for judgments about core or even long term inflation

[MIKESTREED]

Meanwhile crude hit $120/bbl today. 12% of those added jobs were government jobs. A higher government deficit leads to more inflation. Economics 101.

[alltogethernow]

THANK YOU PRESIDENT Joe Biden for ALWAYS putting America first
- despite republican OBSTRUCTION, RACISM, and LIES

[paxundpeace]

Dear Kevin, it would be bad when wages are going down or just down grow as fast as they did because.
5% wage growth can't keep up with 7 to 8% inflation.

[lawrenceleverton]

Quits to working no news here. How many quits this week?? Expect the downward revision in weeks to come. Like always. More quits than hires that be true. Last month they had 4.4 million quits. I guess that is one thing they dont publish on this lib show. Also Brandon needed some positive news temporarily until it turns out worse than what they reported. Its the Economy Stupid. Lets Go Brandon

[SickSkilz]

People are lazy.>90% of unemployment is when a person can't get the job they want or for the pay they want. As such, it is voluntary. I have two underage kids that easily make over min wage with no experience... just work ethic.