May's job report beats expectations
If we keep getting jobs reports like we've gotten the past 3 months, CNBC will need to revise their article's wording from this month's article. This morning's article said "Job growth unexpectedly surged in May as the U.S. labor market continued a solid year of expansion, the Bureau of Labor Statistics reported Friday." In addition to doing better than expected, revisions for the past 2 months were revised upwards by 93,000. Those are major revisions. If the economy continues improving, CNBC should revise their article to say "Job growth expectedly surged in June..." This is welcome information but it isn't surprising. A year ago, I predicted something that I called 'the Trump boom.' I was off with the timing a little but the boom is happening. Rick Santelli and Joe Kernen spoke to that this morning: Both men said that the stock market had already priced in a strong economy. When the investor class does that, consumer confidence often i...