It will only take a couple of tenths of a percent increase in the unemployment rate to cause confidence to collapse, as the adaptation level is now at 4.31 percent. For my theory of “animal spirits,” please read “Whither ‘animal spirits?’” Every business cycle ends when things get worse than what people are used to.
Here is zerohedge.com on the reports:
May Payrolls Soar 272K, Above Highest Estimate, As Wages Come In Red Hot
Payrolls Instant Reaction: A Schizophrenic Report
Have a blessed day!