Courtesy of Mish.
Initial Reaction
Today’s employment report shows an increase of 156,000 jobs.
The BLS revised revised November employment to 204,000. from 178,000. The BLS revised October lower a second time. Last month The BLS lowered October from +161,000 to +142,000. This month the BLS took October down again to +135,000.
Employment has been much weaker than job creation for three months. The household survey shows a gain in employment of only 63,000 in December. November employment rose 160,000. October employment fell 43,000.
The labor force rose by 184,000 sending the unemployment rate up by 0.1 percentage points.
Let’s dive into the details in the BLS Employment Situation Summary, unofficially called the Jobs Report.
BLS Jobs Statistics at a Glance
- Nonfarm Payroll: +156,000 – Establishment Survey
- Employment: +63,000 – Household Survey
- Unemployment: +120,000 – Household Survey
- Involuntary Part-Time Work: -220,000 – Household Survey
- Voluntary Part-Time Work: +327,000 – Household Survey
- Baseline Unemployment Rate: +0.1 to 4.7% – Household Survey
- U-6 unemployment: -0.1 to 9.2% – Household Survey
- Civilian Non-institutional Population: +202,000
- Civilian Labor Force: +184,000 – Household Survey
- Not in Labor Force: +18,000 – Household Survey
- Participation Rate: +0.1 to 62.7 – Household Survey
Employment Report Statement
