Yes, the BLSBS added 559,000 "jobs" but this is still nowhere near what the experts were predicting. What does this mean for today and what does this mean for the FOMC in two weeks? Plenty.
By now you've likely read the gory details. It was another month where expectations were for 800,000+ new "jobs" and instead the BLSBS printed 559,000. Not only that, but the disastrous April number was only revised upward by 12,000 from 266,000 to 278,000.