{"id":1469942,"date":"2024-06-07T12:44:46","date_gmt":"2024-06-07T16:44:46","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1469942"},"modified":"2024-06-07T12:44:46","modified_gmt":"2024-06-07T16:44:46","slug":"may-payrolls-soar-272k-above-highest-estimate-as-wages-come-in-red-hot","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/may-payrolls-soar-272k-above-highest-estimate-as-wages-come-in-red-hot\/1469942\/","title":{"rendered":"May Payrolls Soar 272K, Above Highest Estimate, As Wages Come In Red Hot"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">May Payrolls Soar 272K, Above Highest Estimate, As Wages Come In Red Hot<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>Ahead of the payrolls report, we commented that with both of the two largest banks &#8211; Goldman and JPMorgan &#8211; expecting a miss, it was only logical to expect a big beat&#8230;<\/p>\n<p>Goldman (165K) and JPM (150k) are below the median NPF estimate of 180k.<\/p>\n<p>It will beat. <a href=\"https:\/\/t.co\/v2UxP2TBky\">pic.twitter.com\/v2UxP2TBky<\/a><\/p>\n<p>\u2014 zerohedge (@zerohedge) <a href=\"https:\/\/twitter.com\/zerohedge\/status\/1799041491572277378?ref_src=twsrc%5Etfw\">June 7, 2024<\/a><\/p>\n<p>&#8230; and sure enough moments ago the BLS reported that in May, the US added a whopping 272K jobs&#8230;<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/NFP%20may%202024.jpg?itok=aHbYCEI2\"><\/a><\/p>\n<p>&#8230; up sharply from the (downward revised of course) April print of 165K (from 175), and not only a 4-sigma beat to the 180K median estimate..<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/expectations_0.jpg?itok=duNMseat\"><\/a><\/p>\n<p>&#8230; but also above the highest Wall street estimate which was 258K courtesy of Regions Bank, and which was 14K below the actual print.<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/highest%20estimate.jpg?itok=5Pu55zI-\"><\/a><\/p>\n<p>Not surprisingly historical data was &#8211; as always &#8211; revised lower: March was revised down by 5,000, from +315,000 to +310,000, and the change for April was revised down by 10,000, from +175,000 to +165,000. <strong>With these revisions, employment in March and April combined is 15,000 lower than previously reported.<\/strong><\/p>\n<p><em>developing.<\/em><\/p>\n<p>\u00a0<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Fri, 06\/07\/2024 &#8211; 08:44<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/markets\/may-payrolls-soar-272k-above-highest-estimate-wages-come-red-hot\" target=\"_blank\" class=\"\" rel=\"noopener\">https:\/\/www.zerohedge.com\/markets\/may-payrolls-soar-272k-above-highest-estimate-wages-come-red-hot<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>May Payrolls Soar 272K, Above Highest Estimate, As Wages Come In Red Hot Ahead of the payrolls report, we commented that with both of the&#8230;<\/p>\n","protected":false},"author":0,"featured_media":1469943,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1469942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1469942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1469942"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1469942\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1469943"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1469942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1469942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1469942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}