The Week in Review: June 7, 2026
Hiring Ramps Up
Well, that was a pleasant surprise. The US Bureau of Labor Statistics (BLS) reported that nonfarm payrolls rose by 172,000 in May, more than double the 80,000 economists had expected, according to a Wall Street Journal survey.
On top of that, the most recent readings for March and May were revised sharply higher.
As the chart below illustrates, job growth has topped 150,000 in four of the past five months, a stretch we haven’t seen since early 2024.
Meanwhile, the unemployment rate held steady at 4.3%, where it’s been for four of the past five months.
While that figure comes from a different survey, job gains above 150,000 suggest that even faster hiring may be needed to push the already low unemployment rate lower.
Nonetheless, in another sign that prospects are improving, the US BLS reported last week that job openings in
April rose at the fastest pace since early 2021.
Still, job growth isn’t happening across the board, but after last year’s slowdown, the overall rebound is welcome.
And it’s happening even as economic uncertainty has ramped up due to the war in the Middle East, high gas prices, and a fragile ceasefire that, at least for now, has prevented a larger conflict from breaking out.
Economic growth has historically led to job growth. Sales rise and companies look for staff to support improving business conditions.
For reasons that aren’t fully understood, we didn’t see that last year in private-sector jobs outside of health care, but it appears the historic trend is beginning to reassert itself.
For investors, a firmer job market, coupled with still-high inflation, raises the odds that the Federal Reserve’s next move could be a rate hike.
Market summary
Two FOR THE ROAD
Self-reported freedom reached a record high in 2025. According to a recently published Gallup poll, 82 percent of people surveyed across 138 countries reported being satisfied with their freedom to choose what to do with their lives, up from 71 percent in 2006, when the survey began. Some of the largest gains came from countries in the former Eastern Bloc. Gallup notes that this result is more closely associated with other metrics of subjective wellbeing than with formal measures of political and personal freedom. – Gallup, June 2, 2026
"In preparing for battle, I have always found that plans are useless, but planning is indispensable." - Dwight D. Eisenhower
I hope you have a wonderful week!
Warmest Regards,
Bill Stordahl, CFP®
Managing Director
Stordahl Capital Management
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