Guest Post by Anthony Sanders
To better understand the July Jobs report, one has to understand the seasonal adjustments that the Bureau of Labor Statistics employs.
Nonfarm payroll jobs added in July on a seasonally adjusted basis were +255,000 in July. But the raw or NON seasonally adjusted numbers were -1,030,000 jobs. Or 1.03 million jobs lost.
Notice in the above chart that you get big downward dips in the nonfarm payroll numbers in January and July. And it repeats every year. For January, this is the release of seasonal employment for the holidays. For July, this is the transformation to summertime employment, mostly for teachers. Local government education NSA fell by -1,093,000 in July. Total PRIVATE jobs added amounted to +85,000.
Continue reading “Actually, The US LOST 1,030 Million Jobs in July (Teachers’ Summer Break)”
