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Every January shows an unadjusted number of job losses. That is because every January, companies purge people from their payrolls who haven't actually worked for the company for some months; people working on contracts have their jobs ending at the end of the year (that happened to me once); people working seasonal jobs for Christmas have their jobs end; and similar reasons.
When the BLS does their seasonal adjustments, they compensate for that. So when they say that X jobs were created in the seasonally-adjusted numbers for January, what that means is that X jobs fewer than usual for January were lost.
If the unadjusted number of January losses was smaller than usual this year resulting in a larger unadjusted-adjusted gap, is probably because there is a labor shortage, and thus, fewer people in the categories I listed above were let go from their jobs at the end of the year.
But once again ... this phenomenon happens every January.
The numbers have been all over the map of late because of the difficulties presented by the pandemic. All one needs to do is use their own eyes. This is the best labor market we have ever seen and the revisions are beginning to capture that. There are job openings everywhere and at wages that would have seemed impossible two years ago for the bottom rung.
Really. For instance, the Salt Lake City unemployment rate is clear down to 1.3%. That is just amazing because many people want to move there because of the awesome mountain scenery.
ADP is not "Trump supporters". A thread that got a grand total of 22 responses, despite the "liberal tears" around here that this is some "right wing site". 4 of those 22 were from JamesBond007
Yep, I trust ADP which has tremendous real-time payroll information for it's report much more than government propaganda.
34% of the job gains were in restaurants in hotels while motor vehicles and parts employment plunged 4,900 and construction jobs down 5,000 due to Biden-inflation.
I don't believe those leisure and hospitality numbers at all. Many restaurants were closed for weeks during Joe Biden's COVID surge.
I trust ADP numbers much more than government propaganda.
It's very concerning that a legitimate private company that tracks payrolls reports massive job loses and the government propaganda BLS says there were huge job gains.
Interesting, how leisure and hospitality made up 151,000 of those gains but goods-producing sectors of the economy were up only 4,000.
I don't believe that 151,000 more people were working in leisure and hospitality when many restaurants had to close because of the surging COVID cases that Biden/Walensky failed to get under control.
Also, with Biden-inflation construction was down 5,000 jobs
let me get this straight...a crap ton of jobs were added. but the unemployment rate still ticked up.
meaning:
a) wayfair has great prices
b) did you see what Beth Dutton did?
c) more jobs were lost than added.
d) I like biscuits
And the rate of participation fell over so slightly to a new historical low.
Before you order that buttercreme icing cake, understand what these numbers mean. yes, it was not as big of a loss as it was thought to be. but it was a loss nonetheless.
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