XBSIndex“Prior months were revised higher by 93,000.”
What they posted
The jobs report was a barnburner. Nonfarm payrolls increased by 172,000 versus expectations for 88,000, while prior months were revised higher by 93,000. Wage growth came in at roughly 0.3%. Yet the market sold off. In our view, the market is misreading the signal. It is https://t.co/cWT81AB6vg
Why it's Truth
BLS official release and contemporaneous reporting from Reuters, CBS News, and others confirm the exact numbers: 172k May gain vs. ~88k expectations, and +93k net upward revisions to March and April combined.