🚨ATTENTION🚨
👀We have the data from the EMPLOYMENT REPORT amid a DECISIVE situation for the FED
👉There is something that MANY are overlooking about this labor report
How did the data come in⁉️
🔹Average hourly earnings increased from 0.2% to 0.4%, while a 0.3% was expected
🔹Non-farm payrolls (job creation outside the agricultural sector) fell from 147K to 139K, while 126K was expected
🔹The unemployment rate remained at 4.2%, as expected
—What initially seems like a labor report with BETTER data than expected has a somewhat striking nuance
What do I mean by this⁉️
🔻The data for March and April was revised
🔻In March, it was reported that non-farm payrolls were 185,000, but today they claim that this data was incorrect and that it was actually 120,000
🔻In April, it was mentioned that non-farm payrolls were 177,000, but today they claim that this data was incorrect and that it was actually 147,000
📍In other words, the labor market seems to be weaker than previously thought
📍Considering this, the VERY BAD ADP data, unemployment benefit claims, and that inflation is decreasing, the FED could carry out the 2 rate cuts they projected for this year
📍CRUCIAL that in the next FED projections (on June 18) they continue to project at least 2 rate cuts