Really Big Jobs Report: Hahahaha

Direct from the desk of Dane Williams.

"Really big jobs report. Great going President Trump."

Yes, that's a direct quote from Donald Trump.

You truly can't make this shit up.

May's jobs report was released by the Labor Department on Friday and the main results from the report when compared to Bloomberg expectations are as follows:

• Change in non-farm payrolls: +2.509 million vs. -7.5 million expected and -20.687 million in April
• Unemployment rate: 13.3% vs. 19.0% expected and 14.7% in April
• Average hourly earnings month on month: -1.0% vs. +1.0% expected and +4.7% in April
• Average hourly earnings year on year: +6.7% vs. +8.5% expected and +8.0% in April

And didn't the markets love it.

SPX Daily:

While I joke about the SPX reaching record highs in the midst of both a global pandemic and what some describe as a civil war, we're pretty much there.

There are no more higher time frame support/resistance zones that are worth noting until we reach the swing highs.

Amazing.

But while the markets see these numbers as a good thing, purely because they beat expectations and the negativity that was prematurely priced in as a result, there are still literally tens of millions of Americans left unemployed.

Tens. Of. Millions.

The disconnect between markets and the real economy continues to widen.

Best of probabilities to you,

Dane.

Posted Using LeoFinance

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