The Bureau of Labor Statistic released new jobs data on Friday.
According to the report, seasonally adjusted total nonfarm jobs rose 339,000 jobs in May, well above forecasts.
According to Politico, the latest jobs numbers are evidence of a "Remarkable resilience of President Joe Biden's economy" and NPR declared the job market to be "Sizzling hot."
May appears to be yet another month in which it seems nearly every economic indicator except the payroll jobs data points to an economic slowdown.
So how do we square all this with yet another jobs report that claims to tell us that the job market is the best it's been in decades?
Well, a lot of the jobs data isn't actually very good.
In May, while the Establishment Survey showed a gain of 339,000 jobs month-over-month, the Household Survey showed a loss of 310,000 employed persons.
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