Payrolls rose by 209,000 in June, less than expected, as jobs growth wobbles

[progree]

24. I didn't have much of a problem myself with it, except I wouldn't use "wobbly" for today's

Last edited Fri Jul 7, 2023, 01:13 PM - Edit history (1)

though I'm starting to rethink that considering the downward revisions of April and May.

A labor market with +497,000 private sector job gains (yesterday) looks a lot different than today's with +209,000 total jobs gains (+149,000 private sector jobs gains -- that's 30% the number of private sector jobs gains as the ADP report)

(and by the way, there were downward revisons of 110,000 in April and May combined in the BLS report, so that we only have +99,000 net new jobs as compared to what was reported a month ago).

I'm still not getting your point I guess, but if you expect the same headline for a +497,000 and a +209,000 jobs report (+99,000 when downward revisions to prior months considered), then that's OK with me.

I certainly didn't expect them to have a crystal ball yesterday when writing about yesterday's job report, but obviously my standards are lower than yours. So good on you