Bummer! January Jobs Growth Below Estimates Amid Massive Revisions, Job Gains At +143k (New Sheriff In Town!)

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Biden is out and so are the crazy job preferences of his administration (e.g., green energy). There is a new sheriff in town (Donald Trump).

Here’s what the BLS reported in Trump’s first official jobs report since he returned to the White House: total payrolls printed at 143K.

down sharply from an upward revised 307K (256K originally) and missing estimates of 175K.

Looking further back, the change in total nonfarm payroll employment for November was revised up by 49,000, from +212,000 to +261,000, and when adding the +51,000 revision to December employment in November and December combined is 100,000 higher than previously reported

But while the sequential change in the Establishment survey was notable, what was far more remarkable was the Household survey where we saw massive population related revisions (discussed last night), which pushed the civilian labor force higher by 2.2 million to 170.744 million, while the number of employed workers also increased by over 2.2 million to 163.895 million. As a result, the Household survey has finally caught up to Establishment survey.

Where the jobs are.

Revisions?

The Presidential portrait of Joe Biden.

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Published by confoundedinterest17

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