May’s payrolls number is… oh dear. +69,000 | FT Alphaville

May’s payrolls number is… oh dear. +69,000

Consensus had been 150k. A big revision downward in April’s figure of 115,000 too:

The change in total nonfarm payroll employment for March was revised from +154,000 to +143,000, and the change for April was revised from +115,000 to +77,000.

Anaemic… Ten-year Treasury yield below 1.5 per cent at pixel time.

Click chart for the full BLS release…

If you’re looking for a silver lining…

The civilian labor force participation rate increased in May by 0.2 percentage point to 63.8 percent, offsetting a decline of the same amount in April. The employment-population ratio edged up to 58.6 percent in May.

It’s also worth noting the increase in household employment from April to May: