https://www.bls.gov/news.release/empsit.nr0.htm
Consensus forecast was for an increase of 58,000 jobs and for the unemployment rate to remain at 4.3%, so actual figures surprised negatively.
Revisions to previous months amounted to 69,000 downward: December was revised down by 65,000 (+48,000 to -17,000), and January was revised down by 4,000 (+130,000 to +126,000).
FRED graphs:
Monthly change (in thousands) in nonfarm payroll employment levels since Jan 2021.
Nonfarm employment level since Jan 2021.
Headline unemployment rate since Jan 2021.
More expansive unemployment definitions (U-3 thru U-6) since Jan 2021.
Posted by JeromesNiece
2 Comments
I’m surprised January wasn’t revised down more. Seem like a big month-to-month fluctuation.
I’m hardly literate in BLS job reports — are these sorts of fluctuations normal?
This is going to be the ultimate MAGA loyalty test. Will they tolerate high gas prices and a sucky economy?
I mean of course the republicans in congress will but how much of a blue wave are we we going to see in November?