Let's get to the bottom of these employment lies if we can.
bls.gov
Let's start with total employment stats on page 7 ....
Table A-1. Employment status of the civilian population by sex and age
Employed ...... unadjusted 137,384 137,691
Employed ........ adjusted 138,301 138,298
Unadjusted we gained 307,00 jobs February to March so they say. From the same line adjusted we see that we lost 3,000 jobs!
WTF?
They use the higher of unadjusted or adjusted whatever suits their purpose? What a crock of BS. But let'd dig deeper.
From the same table
Unemployment rate ...... 5.6 5.7
Unemployment went up
Now Check out table A-5 on page 10 ....
This is fun
Table A-5. Employed persons by class of worker and part-time status
Part time for economic reasons ..... adjusted 4,437 4,733
Part time for economic reasons ... unadjusted 4,764 4,868
People working part time for economic reasons skyrocketed by over 296,000 Jobs between February and March seasonally adjusted, and over 104,000 unadjusted..
Table A-8 on page 13 is interesting as well.
Table A-8. Unemployed persons by reason for unemployment
Job losers and persons who completed temporary jobs
seasonally adjusted ...... 4,323 4,607
unadjusted ............... 4,888 4,920
So we created 307,000 jobs and unemployment went up by 284,000 seasonally adjusted and 32,000 unadjusted
Lets look at newly unemployed, also on page 13
Table A-9. Unemployed persons by duration of unemployment
Less than 5 weeks seasonally adjusted .......2,468 2,589
Less than 5 weeks unadjusted ................2,318 2,413
Newly unemployed went up by 121,000 adjusted
Newly unemployed went up by 95,000 unadjusted
Let's look at total non-farm payrolls on page 16
Note that these are all PRELIMINARY numbers
Table B-1. Employees on nonfarm payrolls by industry sector and selected industry detail
Total nonfarm ..... preliminary unadjusted 128,794 129,801
Total nonfarm ....... preliminary adjusted 130,240 130,548
WTF???
UNADJUSTED we gained 100,700 jobs
ADJUSTED we supposedly gained 308,000 jobs
How can this possibly jive with Table A-1?
Let's look at Average Hours worked on page 19
Table B-2. Average weekly hours of production or nonsupervisory workers on private nonfarm payrolls by industry sector and selected industry detail
Total private ..... unadjusted 33.8 33.5
Total private ....... adjusted 33.8 33.7
Average work week declined by .3 unadjusted and .1 adjusted
On to a big key as to whether or not the FED can hike...
Average hourly wages on page 20
Table B-3. Average hourly and weekly earnings of production or nonsupervisory workers on private nonfarm payrolls by industry sector and selected industry detail
Total private weekly wages adjusted ..... $527.28 $520.93
Total private weekly wages unadjusted ... $524.58 $523.70
Thus the average worker is taking home $6.35 less per week adjusted and $.88 less per week unadjusted. Certainly no wage inflation for sure. |
