Cheer Up On Employment, MSM

Today’s employment report from the Department of Labor came in with a disappointing 75,000 increase in payroll employment. The MSM is shocked. “US Employment Growth Stalled in May” “Employment Growth Misses Estimates” are the headlines from Google News.

But a quick look at the Department of Labor press release shows a mixed story. The Establishment Survey of businesses shows the 75,000 number. But the Household Survey (from which the headline unemployment rate is obtained) shows a 288,000 gain in employment.

So come on fellahs. Just cool it why don’t you. Employment is growing briskly.

On the other hand government bonds soared as the 10 year US Treasury Note yield declined to 4.995 percent. But then the dollar declined to 0.774 to the Euro.

What do you make of that, you experts in the mainstream media? What should we do: Buy or sell?