Friday, August 3, 2012

Feds: US employment jumps 163K.

The BLS jobs report matches ADP, both showing 163,000 new nonfarm jobs created in July, but the unemployment rate bumped up from 8.2% to 8.3%.  By rounding up however, the actual increase was 0.037 percentage points, not 0.1 percentage points.  The key is that the increase in unemployment is due to seasonal adjustment.

The Table 15 U-6 figure for marginally attached and unemployed increased 0.1, to 15.0% -- the alternative measure of employment.  That's obviously bad, but it's what you'd expect if the regular unemployment rate increased slightly.

It's a mixed but it's also a hugely positive direction considering that it is more than the number of jobs created in the previous two months.

No comments: