ECONODAY: The assessment of the labor market, not to mention the outlook for consumer spending, just came down as nonfarm payrolls proved much weaker than expected in May, up only 38,000 with the two prior months revised a total of 59,000 lower. The Verizon strike is a negative in the data but not a decisive one, pulling down telecommunication payrolls by 37,000 in a loss that will be reversed in coming reports now that the strike has been resolved...
