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May Labor Report Stuns, CNBC’s Santelli Sees ‘Disconnect’ Between Data, ‘Good Jobs’

Posted on 03 June 2016

In spite of expectations that 160,000 jobs or more were added in May, the latest jobs report was a shocker showing just 38,000 job gains last month. CNBC’s Squawk Box panelists reacted live to that surprising Labor Department report on June 3, which showed that employment increased by a mere 38,000, while unemployment fell to 4.7 percent. However, low labor force participation continues to be a major economic problem.