showed that the US added 272,000 jobs in May. Yahoo Finance sat down with experts to break down the report, with guests including Acting Labor SecretaryYahoo Finance spoke with experts and analysts to discuss the latest economic data and what it all means, the main jobs appear to coming in hotter than expected.That was well above expectations for more on the state of the labor market.
And so there's just, it's just overall, such a strong, steady, stable, you know, continued growth that I think this is certainly the coveted soft landing that many people said wouldn't happen.It happens because of steady leadership and that is what, you know, President Biden's economic agenda has always been about this broad based growth, investing in America, creating more good jobs, creating more opportunity and we are seeing the results of that in the numbers.
And to really highlight that this is fundamental to the president's vision of how we build a strong economy and strong communities. We're joined by Lauren Goodwin, who is the New York, life investments economist and chief market strategist and Robert Sin, who is the city senior global economist.Great to see you and thanks so much for joining on what is a better than expected print uh far exceeding what the expectation was coming into this, Lauren.Well, this is good news and for the markets, it's turning out to be bad news at least in the pre market trade.
We're starting to see cracks in lower income consumers in elements of the credit markets, especially in floating rate credit that have been absorbed relatively well so far. So I would still um note them as yellow warning signs rather than red, but they've been yellow warning signs for over a year. Um So yeah, it really, it really, the longer we stay at this place, the more challenging that trade off becomes for the Fed and Lauren to put your strategist hat on.
What we're doing from an investment perspective is acknowledging that risk assets probably do have more room to run in this late stage of the cycle until jobless claims really start picking up. Uh And in fact, really before the congressional budget office did the hard work to figure out really what was happening with immigration in the past couple of years, we thought that immigration would running in 2022 2023 2024 about a million people.That's a very large difference.
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