Posted on 06/04/2017 11:58:24 AM PDT by Lorianne
While on the surface, the payrolls report, the wage growth and the unemployment rate (which dropped for all the wrong reasons) were disappointing, a quick look inside the underlying data reveals even more troubling trends, such as that in addition to the number of employed workers dropping by 233K according to the household survey, the composition of these jobs raised even more red flags because in May the US lost 367,000 full time jobs offset by the gain of 133,000 part time jobs.
Putting this number in context, it was the biggest drop in full-time jobs going back to June 2014.
And in this context, we are happy to announce that while manufacturing jobs once again declined by 1,000, the waiter and bartender recovery continues to hum along, with 30,000 workers added in "food services and drinking places." ...
Didn’t I just read, a day or two ago, that the number of jobs increased for May? Now, that may be part-time jobs given that Obamacare hasn’t left the building yet, and employers are often steering clear of the 30 hour work week. But still,.....
It would be useful if people would at least offer their experience by putting the name of the state.
Then, at least we’d have some additional sense. Without it, well there’s not much value in the hey, here it’s better because...
The notion that Trump “better wake up to this or that” gets a little old.
You can only purge so many people in the Civil Service, so fast. He cannot fire civil service employees. There aren’t enough places to reassign them where they can’t do harm. His personal appointees are about 2,000 for the WHOLE GOVERNMENT.
So there is a reality that this fifth column will be around for a while, no matter what Trump ‘wakes up to.’
Had dinner last night with a pretty big businessman who said that merely cutting the regulations was freeing business everywhere to expand. He said if Trump did nothing else that would revive the economy.
Meanwhile ADP has job growth off the charts.
Moreover, how can Americans holding jobs be at an all-time high and businesses right and left singing Trump’s praises? As you say, it smells.
More lying by the BLS. The same liberal propagandists that claim more people out of work means less unemployment.
THE EMPLOYMENT SITUATION — MAY 2017
Total nonfarm payroll employment increased by 138,000 in May, and the unemployment rate was little changed at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care and mining.
Household Survey Data
The unemployment rate, at 4.3 percent, and the number of unemployed persons, at 6.9million, changed little in May.
Since January, the unemployment rate has declined by 0.5 percentage point, and the number of unemployed has decreased by 774,000. (See table A-1.)
https://www.bls.gov/news.release/empsit.nr0.htm
https://www.bls.gov/news.release/empsit.a.htm
THE EMPLOYMENT SITUATION — MAY 2017
Total nonfarm payroll employment increased by 138,000 in May, and the unemployment rate was little changed at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care and mining.
Household Survey Data
The unemployment rate, at 4.3 percent, and the number of unemployed persons, at 6.9million, changed little in May.
Since January, the unemployment rate has declined by 0.5 percentage point, and the number of unemployed has decreased by 774,000. (See table A-1.)
https://www.bls.gov/news.release/empsit.nr0.htm
https://www.bls.gov/news.release/empsit.a.htm
I'll grant the employment report for this month was disappointing, but losing 367,000 full time jobs while gaining 133,000 part time jobs equaling a net gain of 138,000 jobs does not compute.
The BLS report has part time workers declining by 53,000 from April to May 2017. And declining by 1,190,000 from May 2016 to May 2017
They have the number of employed declining by 233,000 April to May 2017.
I don’t know where “Tyler Durden” (which is a pseudonym for a group of Zero Hedge writers) is getting the numbers “he” is using.
It was a household survey, not gov’t numbers.
From the BLS A9 table. Usually the numbers are somewhat in sync, but not this month.
Whatever, it’s pure nonsense, unsupported by ANY other evidence in the economy.
Same here. I am self employed. This is the first year since before Obama that I am not falling behind. Last year was my worst year ever. However, this is shaping up to be the best year I’ve ever had. Thanks, Trump!
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