This is an ominous sign The unemployment rate has moved above its 36-month MA Such a development has happened 10 prior times since 1952 Every single time, it ended in a recession This time is NOT different
More downward revisions The change in total nonfarm payroll employment for April was revised down by 57,000, from +165,000 to +108,000, and the change for May was revised down by 54,000, from +272,000 to +218,000. With these revisions, employment in April and May combined is 111,000 lower than previously reported
