The Jobs Report Is Much Weaker Than It Looks For Six Months – Mish Talk

Payroll and Employment data from the BLS, chart by Mish.

Initial Thoughts

  • The unemployment rate ticked up in August as more people looked for work.
  • The discrepancy between jobs and employment continues for the sixth month.

I have been commenting on the jobs-employment discrepancy for four months. The two surveys measure different things. A person is either employed or not, but someone can have multiple jobs.


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