BLS Jobs Report = up 467,000, WTF?

[task0778]

The disappointment among the right is palpable.

Fuck off, asshole. I just want to understand how 2 different employment reports for the same month can be so wildly different.

 

[jbrownson0831]

I'll be flat-out honest here, I do not trust any numbers or information coming out of any gov't agency. And not a whole lot of trust in reports coming from non-gov't agencies or organizations either. The results we see are directly related to the data input plus whatever the parameter values are. Changing the formula used probably means a code change, but you can monkey with the data or parameters that are input without changing anything.

Agree...I would like to understand more about things like the jobs and unemployment numbers we are given...but really I take a quick look at what the market is doing when I see a report.....that ADP report released Wednesday and the Dow tanked like 400-500 points. That KIND of tells me it wasn"t a good report, no matter what the spin is today.

 

[jbrownson0831]

Fuck off, asshole. I just want to understand how 2 different employment reports for the same month can be so wildly different.

Yeah the stupidity of the left is also palpable.

 

[Toddsterpatriot]

Job growth rose far more than expected in January despite surging omicron cases that seemingly sent millions of workers to the sidelines, the Labor Department reported Friday.

Nonfarm payrolls surged by 467,000 for the month, while the unemployment rate edged higher to 4%, according to the Bureau of Labor Statistics. The Dow Jones estimate was for payroll growth of 150,000 and a 3.9% unemployment rate.

Payrolls show surprisingly powerful gain of 467,000 in January despite omicron surge

Nonfarm payrolls were expected to increase 150,000 in January, according to economists surveyed by Dow Jones.

www.cnbc.com

This is in sharp contrast to the ADP report that came out Wednesday with drastically different numbers, so WTF? Either I'm missing something or somebody is lying. Could be both I guess. Anybody got any answers?

Two different surveys gave two different results.

 

[jbrownson0831]

Two different surveys gave two different results.

Jobs created, and people added to payroll, something like that?

 

[Toddsterpatriot]

Jobs created, and people added to payroll, something like that?

ADP National Employment Report Definition, What It Covers

The ADP National Employment Report is a monthly economic data release that tracks levels of nonfarm private employment in the U.S.

www.investopedia.com

Employment Situation Summary - 2024 Q02 Results

www.bls.gov

 

[jbrownson0831]

ADP National Employment Report Definition, What It Covers

The ADP National Employment Report is a monthly economic data release that tracks levels of nonfarm private employment in the U.S.

www.investopedia.com

Employment Situation Summary - 2024 Q02 Results

www.bls.gov

So the main difference is ADP is private payroll, BLS includes government. So a crappy month for private growth jobs and a stellar month for government welfare jobs.....the way I read it.

 

[iamwhatiseem]

Big upwards revisions for Nov and Dec too.

Nice!

 

[jbrownson0831]

View attachment 596968

In government welfare jobs funded by taxpayers, yes it appears.

 

[Mac1958]

View attachment 596968

Cheering on America is considered trolling in the alternate universe.

I wish I could say I'm surprised.

 

[jbrownson0831]

ADP National Employment Report Definition, What It Covers

The ADP National Employment Report is a monthly economic data release that tracks levels of nonfarm private employment in the U.S.

www.investopedia.com

Employment Situation Summary - 2024 Q02 Results

www.bls.gov

Thanks for the info.

 

[Harpy Eagle]

This is in sharp contrast to the ADP report that came out Wednesday with drastically different numbers, so WTF? Either I'm missing something or somebody is lying. Could be both I guess. Anybody got any answers?

They calculate when the jobs were added very differently. Last month ADP said we gained 807,000 while the BLS said it was less than 400,000. By the end of the year they are normally pretty close in total jobs added. Both also adjust their numbers as more data comes in during the month.

This is the way it has always been.

 

[Harpy Eagle]

The liars didn't know the real report came out before their fake one. Look at the stock market to see what the truth is

 

[Harpy Eagle]

And yet millions more jobs lost.

They did????

 

[edthecynic]

BLS is controlled by the democrats.

BULLSHIT!
The head of BLS is a Tramp appointee.

 

[theHawk]

Cheering on America is considered trolling in the alternate universe.

I wish I could say I'm surprised.

Isn’t that exactly what you morons do as you rail against the MAGA movement?

 

[theHawk]

They did????

View attachment 596984

Yes, read the actual report.

 

[jbrownson0831]

Isn’t that exactly what you morons do as you rail against the MAGA movement?

What is to cheer? I don't read any good news on private corporation growth jobs in the reports, just government tax funded jobs.

 

[Mac1958]

Isn’t that exactly what you morons do as you rail against the MAGA movement?

The "MAGA movement" is a farce, and you've been conned by a buffoon.

I love America. You love Trump.

 

[edthecynic]

like Obama did with all his part time jobs during his time?

Obama's jobs were over 90% FT.