It’s that time of month!
The Bureau of Labor Statistics released data this morning that looks mighty fine. Non-farm payrolls added 217,000 jobs last month which exceeded expectations of 215,000 by economists. In addition, the unemployment remained unchanged at 6.3 percent.
We should add that April’s employment numbers were slightly downsized to 282,000 jobs instead of the original report of 288,000 jobs. That said, March numbers remain unchanged.
Ron Sanchez, executive vice president and chief investment officer at Fiduciary Trust (a Franklin Templeton company), told Forbes the results are positive.
“This is the fourth consecutive month that non-farm payrolls increased more than 200,000. That is the first time that we have seen four consecutive months of 200,000 or more since October of 1999.”
He added, “For a number that has a high degree of variability, this is notable for its stability. And markets always like to see a true trend, and this would appear to be a well-entrenched trend.”