LABOR EXPLOSION: Economists STUNNED as blowout jobs report rewrites the narrative

• May jobs report: +172K nonfarm payrolls (vs. +85K estimate), 4.3% unemployment rate, +3.4% Y/Y wage growth.
• Significant upward revisions for March (+29K) and April (+64K) jobs, totaling +93K.
• Job gains were broad-based, with notable increases in Leisure & Hospitality, Private Education & Health Services, Construction, and Government.
• Panelists emphasized the economy's resilience, strong corporate earnings, and the transformative potential of AI as key drivers for continued economic strength.

The May jobs report significantly exceeded expectations, with 172,000 nonfarm payrolls added against an 85,000 estimate, and the unemployment rate holding steady at 4.3%. Experts on the panel lauded the economy's resilience, strong corporate earnings, and the positive impact of AI and pro-business policies, despite initial mixed market reactions.