Surprise Of The Month: Jobs Report Shows Big May Employment Gains, Falling Unemployment

Surprise Of The Month: Jobs Report Shows Big May Employment Gains, Falling Unemployment

Today's monthly payrolls report suggests maybe it is, though one data point isn't necessarily the last word on the matter.. Investors received a surprising curveball from the government Friday as the Labor Department reported that employment rose 2.5 million in May and the unemployment rate fell slightly to 13.3%.. Looking at the numbers today, it reminds us once again how the stock market is often a forward indicator.. There was a sense things were getting better around the economy and stocks rallied sharply in April and May. in June, we just received a very positive piece of news that might seem to justify at least some of the huge run-up in the market since the March lows.. Employment in the category rose 2.5 million in May after falling 7.5 million in April.. Even retail employment rose 368,000 in May despite many stores still being shut down that month.. When you look at where jobs declined in May, the biggest factor was government.. The government revised March and April job losses down by a combined 642,000, which sounds like a lot until you consider it in the context of more than 20 million jobs lost in those two months.. First for