U.S. labor market surprises with 147,000 new jobs last month. Here are the big takeaways
U.S. labor market surprises with 147,000 new jobs last month. Here are the big takeaways
The U.S. labor market delivered another upside surprise last month, churning out a surprisingly strong 147,000 jobs. The unemployment rate ticked down unexpectedly, too. But the headline numbers masked some weaknesses […]
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And as I point out every time they tout this number, without context, it means nothing.
What was the change in the overall US labor pool for the same month?
This is only actually job "growth" if fewer than 147,000 people were added to the labor pool. If exactly 147,000 people were added to the labor pool, then it's only managing to keep pace, and if more than 147,000 people were added, it's actually a net loss.