Faux News is CHEERING the great news.
Market is up, oil is UP (MORE good news) — all because of the phantom added jobs that RAISED the unemployment rate.
Happy days are here again — SPEND!
Do I need the /s?
Probably so.
I have tried to find the seasonal adjustments for each month going back a year or more without luck. I have a suspicion that the total adjustments for a year do not add up to zero. That in fact they add up to a lot of “fudged” jobs. I can’t seem to find them on the government site, even though in the past I did.
I am quite certain someone designed the way the data is presented and stored to deter people from checking into it.
You can find the Birth and Death adjustments
here.
Per the BLS, "Note that the net birth/death figures are not seasonally adjusted, and are applied to the not seasonally adjusted monthly employment estimates to derive the final CES employment estimates." published in
Table B-1 on the monthly empsit.
Both the not seasonally adjusted and seasonally adjusted jobs numbers on Table B-1 are subject to further adjustment for two months after they are published.
The only source of these adjustments I could find are found under 'Establishment Survey Data' in the published monthly empsit.
In the most recent
empsit: "The change in total nonfarm payroll employment for May was revised from +77,000 to +87,000, and the change for June was revised from +80,000 to +64,000. "
You can find archived monthly
here
I've tried to make this convoluted process as clear as possible.