Friday Jobs Report comes in at 38,000 jobs for May and the unemployment rate drops to 4.7%. Everything you need to know about the report. Financial Review by Sinclair Noe for 06-03-2016 DOW – 31 = 17,807 SPX – 6 = 2099 NAS – 28 = 4952 10 Y – .11 = 1.70% OIL – .39 = 48.76 GOLD + 33.10 = 1244.50   The US economy added 38,000 jobs in May, which is not a typo, it is the fewest jobs added in more than 5 years – just 38,000.  The unemployment rate fell three-tenths of a percentage point to 4.7 percent in May, (again, not a typo) the lowest since November 2007. The unemployment rate went down for the wrong reason; not because people were finding jobs but because 458,000 people dropped out of the labor force. Most forecasts were calling for 150,000 to 180,000 new jobs, so this was a big miss.   The government revised down the number of new jobs created in April to 123,000 from 160,000. March’s gain was lowered to 186,000 from 208,000, or a downward revision of 59,000. Over the past 3 months, job gains have averaged 116,000 per month. The drop-off in 2016 is the sharpest of the seven-year-old recovery. Most industries eliminated jobs last month, the first time that’s happened in several years, but there may be some noise in the statistics; 35,000 striking Verizon workers were counted as unemployed but the jobs report was still the weakest in at ...