Network Sunday Shows All Ignore Strong Jobs Report And Record Stock Surge

gdgyva said:

http://www.debatepolitics.com/break...8436-us-economy-adds-288-000-jobs-june-4.html

post # 37

I am adding this so you can see for yourselves.

Table A-9. Selected employment indicators

As we reported previously, and as hardly anyone else will discuss, in June the composition of added jobs was rather abysmal: according to the Household survey, while over half a million full-time jobs were lost, this was offset by less paying, benefits-free part-time jobs rising by 799K, the most since 1993. So what does that mean for the job quality as reported by the Establishment Survey. Let’s dive in.

Of the 288K jobs added in June, here were some of the biggest contributors:

Retail Trade: 40.2K
Leisure and Hospitality: 39K
Education and health: 38K
Government: 26K
Temp Help Service: 13.1K
What about the well-paying jobs? Well, here they are:

Professional business services: 53.9K
Financial Services: 17K
Manufacturing: 16K
Information: 9K
Construction: 6K

Read more at Anyone take a close look at today’s job numbers? 288K jobs added… look inside for the details. They suck. | InvestmentWatch

Click to expand...

LOL, You were looking at the Seasonally adjusted numbers rather than the real numbers.

http://www.bls.gov/cps/eetech_seas.pdf

How are seasonal fluctuations taken into account?

Total employment and unemployment are higher in some parts of the year than in others. For example, unemployment is higher in January and February, when it is cold in many parts of the country and work in agriculture, construction, and other seasonal industries is curtailed. Also, both employment and unemployment rise every June, when students enter the labor force in search of summer jobs.

The seasonal fluctuations in the number of employed and unemployed people reflect not only the normal seasonal weather patterns that tend to be repeated year after year, but also the hiring (and layoff) patterns that accompany regular events such as the winter holiday season and the summer vacation season. These variations make it difficult to tell whether month-to-month changes in employment and unemployment are due to normal seasonal patterns or to changing economic conditions. To deal with such problems, a statistical technique called seasonal adjustment is used. This technique uses the past history of the series to identify the seasonal movements and to calculate the size and direction of these movements. A statistical procedure is then applied to the estimates to remove the effects of regular seasonal fluctuations on the data. Seasonal adjustment eliminates the influence of these fluctuations and makes it easier for users to observe fundamental changes in the level of the series, particularly changes associated with general economic expansions and contractions. Many of the monthly time series for major labor market indicators, especially those in the monthly Employment Situation report, are seasonally adjusted. More information about seasonal adjustment of CPS data is available in the CPS technical documentation.

How the Government Measures Unemployment

What is seasonal adjustment?

Seasonal adjustment is a statistical technique that attempts to measure and remove the influences of predictable seasonal patterns to reveal how employment and unemployment change from month to month.

Over the course of a year, the size of the labor force, the levels of employment and unemployment, and other measures of labor market activity undergo fluctuations due to seasonal events including changes in weather, harvests, major holidays, and school schedules. Because these seasonal events follow a more or less regular pattern each year, their influence on statistical trends can be eliminated by seasonally adjusting the statistics from month to month. These seasonal adjustments make it easier to observe the cyclical, underlying trend, and other nonseasonal movements in the series.

As a general rule, the monthly employment and unemployment numbers reported in the news are seasonally adjusted data. Seasonally adjusted data are useful when comparing several months of data. Annual average estimates are calculated from the not seasonally adjusted data series.

What is seasonal adjustment?


yeah....funny that i used the BLS stats as per their own rules

there is a reason seasonally adjusted is used.....otherwise UE numbers in winter would spike horribly....not so good for christmas shopping season