There is an old saying. You can’t have your cake and eat it too.

The Bureau of Labor and Statistics (BLS) released its may Jobs Report, showing $172,000 jobs added, Double the expectations of 85,000.

Bond market reacted as did rates. it moved lower but fortunately not too much.

Who creates this Jobs report?

The U.S. Bureau of Labor Statistics (BLS) is the federal government’s principal fact-finding agency for labor economics and statistics and has published the monthly Employment Situation (jobs report) for decades using transparent, documented survey methods and a public release calendar.

What’s important is its a survey not hard data. ADP is hard data with far more data points.

Do I trust BLS reports? Not really and its backed up by statistical analysis of revisions over time.

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