The May jobs report was expected to show job losses of 7 to 8 million. This was the analysis of the financial experts and Nobel laureate economists. Imagine their surprise when the Bureau of Labor and Statistics (BLS) announced that 2.5 million jobs have been ADDED to the economy. Never in the history of the country have we seen a turnaround like this from one month to the next.
In effect, there are 10 million more jobs at the end of May than the experts predicted. Never have the experts been off by anywhere near this much. Not only were they not in the same ballpark, they weren’t even on the same planet. Perhaps these experts were meth experts not math experts.
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