JMHO Loc: Utah

Initial Reaction

The big surprise in this month's report was a decline in average hourly earnings. Details below.

For the second straight month there has been a huge discrepancy between the household survey employment and the establishment jobs survey. Swings in household survey employment and the labor force have been wild lately.

Last month household survey employment rose by 4,000 while the payroll survey had job gains of 321,000 (revised up this month to 353,000). This month the household survey shows a modest gain in employment of 111,000 vs. a payroll survey of 252,000 jobs.

The unemployment rate dropped this month primarily because 273,000 people dropped out of the labor force.

Once again we are in a situation where the establishment survey and the household survey are at odds. Over time these fluctuations tend to smooth out. The question, as always, is "in which direction".

BLS Jobs Statistics at a Glance

- Nonfarm Payroll: +252,000 - Establishment Survey
- Employment: +111,000 - Household Survey
- Unemployment: -383,000 - Household Survey
- Involuntary Part-Time Work: -61,000 - Household Survey
- Voluntary Part-Time Work: -241,000 - Household Survey
- Baseline Unemployment Rate: -0.2 at 5.6% - Household Survey
- U-6 unemployment: -0.2 to 11.2% - Household Survey
- Civilian Non-institutional Population: +183,000
- Civilian Labor Force: -273,000 - Household Survey
- Not in Labor Force: +456,000 - Household Survey
- Participation Rate: -0.2 at 62.7 - Household Survey

Continued (with charts): http://finance.townhall.com/columnists/mikeshedlock/2015/01/10/everything-you-should-know-about-fridays-jobs-numbers-n1941106?utm_source=thdaily&utm_medium=email&utm_campaign=nl&newsletterad=

cletus

so true numbers how a bout those who aren,t count who lost their jobs no longer recd checks

cletus

did they count those who donnot get unemployment checks'no they donot count them .Soon have more on the rolls because of stores closing.sears k mark jc pennys radio shack etc