August Unemployment Numbers

The U.S.Bureau of Labor Statistics (BLS) released the August unemployment numbers today. The BLS Commissioner says: “Nonfarm payroll employment increased by 156,000 in August, and the unemployment rate was little changed at 4.4 percent. Job gains occurred in manufacturing, construction, professional and technical services, health care, and mining. Employment growth has averaged 176,000 per month thus far this year, about in line with the average monthly gain of 187,000 in 2016.”  

May Employment and Unemployment Numbers

The U.S.Bureau of Labor Statistics (BLS) released the May unemployment numbers today. The BLS Commissioner says: Nonfarm payroll employment increased by 138,000 in May, but these are Seasonally Adjusted numbers. So since typically employment increases in May, what he is saying is that 138,000 more jobs than average were created. In unadjusted terms employment was 145.938 […]

Over a Million New Jobs Not 211,000 

Today’s Bureau of Labor Statistics (BLS) Commissioner’s Report says, “Nonfarm payroll employment increased by 211,000 in April, and the unemployment rate, at 4.4 percent, was little changed. Thus far this year, monthly job gains have averaged 185,000, in line with average monthly job growth in 2016. In April, job gains occurred in leisure and hospitality, health care and social assistance, financial activities, and mining.”
But we have to remember that typically employment increases in April. So what the BLS Commissioner is saying is that 211,000 more jobs than average were created. In layman’s terms, unadjusted employment was 144.953 million in March and 145.979 in April for a net gain of 1,026,000 jobs.

May’s “Terrible” Jobs Report

On June 3rd the U.S. Bureau of Labor Statistics released its “surprisingly weak” monthly Employment Report which the media is touting as “terrible”. According to the media “only 38,000 jobs were created” in the month of May. Although experts were predicting increase two or three times as large.
This was the smallest gain since September 2010 partially fueled by the Verizon strike of 34,000 but even with that extra 34,000 payrolls would have increased by only 72,000. However, like most Government statistics it is only half the story. First of all, the numbers quoted are …