DAVENPORT, Iowa — "U.S. employers added a modest 559,000 jobs in May, an improvement from April’s sluggish gain but still evidence that many companies are struggling to find enough workers as the economy rapidly recovers from the pandemic recession," according to a report from the Associated Press.
The unemployment rate did fall to 5.8% from 6.1. This is the second consecutive month the number of new jobs added has been significantly below expectations though. Financial Advisor Mark Grywacheski says he is concerned that not as many jobs are being added as experts believed.
"These vaccines and this explosive reopening of the economy should be driving this very high octane growth in the economy and labor market because there's going to be a time when these tail winds quickly start to fade," he said Monday morning June 7th. "We need to maximize any gains in the economy and the labor market from what I call this 'free ride' before these gains in the economy and the labor market become much harder to come by."
Grywacheski also talked about AMC stock, which is still up about 2,000% this year. He does not think you should invest in it. Your Money with Mark airs live in-between 5 and 5:30 a.m. every Monday.