Or was it?
The January employment report was released on Friday. The 353,000 jobs added were almost double what was expected. The unemployment rate remained at 3.7% and hourly wages rose 4.5% faster than expected. Bonds slumped as expectations of lower interest rates faded. But are these results as strong as the headlines suggest? Perhaps not. Here are three analyses that raise questions regarding the employment report and what the underlying numbers are saying about employment and the economy.
Inside The Most Ridiculous Jobs Report In Recent History
The Biden Department Of Propaganda has truly outdone itself with this one…
Tyler Durden
Ignore the Amazing Headline Job Numbers, Note the Revisions
Every year, the BLS makes major adjustments to the data then does not revise history. The charade puts a constant spectacle on monthly job reports. This month let’s start with revisions.
Mike Shedlock
Jobs Soar but Full Time Employment Is Barely Changed Since May 2022
Payrolls are up by 5.77 million since May of 2022, but full time employment up only 457 thousand. No amount of BLS smoothing can hide this.
Mike Shedlock