Were the Good Jobs Numbers Cooked?
The real (unadjusted number) for Non-Farm Payrolls was a drop of 1,030,000 in July and last year that drop was 943,000. Therefore, I question the BLS seasonally adjusted data of an increase of a 255,000. Also, there were over 600,000 less jobs created year over year from July 2015 to 2016 than there were in the year prior. In addition, data from Paychex shows the percentage of job growth that is merely part-time is accelerating sharply.
Therefore, although the economy is still adding net new jobs it would be a mistake to believe that the pace new job creation is accelerating or that the quality of job growth has improved.
Article courtesy of Pentoport.
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