June nonfarm payrolls declined by (- 125,000). Of that, (- 225,000)
was laid off census workers, meaning that hiring for the month of
June totalled +100,000 workers. This is the sixth straight
month of payroll growth ex-census. Since employment bottomed at the
end of last year, 593,000 private sector jobs have been added
The above number is the "establishment survey" which is obtained by
calling businesses, and is subject to the controversial "birth/death"
adjustment. The separate "household survey" which is obtained by
calling households -- which does NOT included any birth/death
adjustment (and is a much more noisy number) showed a -gain of
191,000 jobs- loss of 301,000 jobs. This year, the household survey shows a gain of 1,300,000 jobs in the economy.
The headline unemployment rate, which is also obtained by the
household survey, declined to 9.5% The more
inclusive U6 rte, which includes the underemployed, also fell to 16.5%.
More details below the fold.
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