🧵 The economy added 272,000 jobs in May, including gains in health care; local government; leisure and hospitality; and professional, scientific and technical services. The unemployment rate was 4.0%. www.bls.gov/news.release/empsit.nr0.htm pic.twitter.com/UiDYR9KWlF

Unemployment Insurance Weekly Claims Initial claims were 229,000 for the week ending 6/1 (+8,000). Insured unemployment was 1,792,000 for the week ending 5/25 (+2,000). www.dol.gov/ui/data.pdf pic.twitter.com/Bu9CBpWS5F

Key takeaways from the big May jobs report: The good news 1) +272,000 jobs added. Strong hiring in healthcare and local gov't. 2) Strong wage gains that are well above inflation. +4.1% in past year (and 0.4% in May alone) 3) Prime-age labor force participation highest in 22… pic.twitter.com/1QnIvFNAot

Here's the part of the May jobs report that shows a slowing economy. 4% unemployment rate -250,000 in the labor force -408,000 people employed Labor Force Participation Rate falls to 62.5% This is a different story than the strong job gains. Fed (and everyone else) will need… pic.twitter.com/gUF9YhGevj