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Employment Numbers Poor

On Friday the government announced the Employment Situation Report with only 38,000 new jobs had been created, against an expectation of a worst case scenario on 115,000 new jobs.   Worse, prior job estimates continue to be revised lower, with material downward revisions in the previous 2 months data.    Last month’s non-farm payrolls were downward revised from 160,000 to 123,500, and the previous months revised downward again!

This was a devastatingly bad report, with almost nothing could be interpreted in a positive light.

Market’s are up this morning no doubt on the likely hope the fed will not raise interest rates in June, and possibly forget about July as well.

Fee only Planning

James Morgan Asset Management, LLC, offers fee  only financial planning and money management.  We do not earn a commission on any investment recommendation.

James Morgan, CFP®, JD – 303-457-9500 

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