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2017 Closes With an Unimpressive Jobs Report January 5, 2018

Posted by geoff in News.
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Yesterday’s ADP National Employment Report showed 250K jobs added last month, prompting at least one comment that the economy might be “overheating.” Today’s Employment Situation Summary from the Bureau of Labor Standards showed much more modest gains – only 148K jobs.

My employment metric (full-time jobs/civilian non-institutional population: data taken from the Household Survey) was even less inspiring. Behold:

FullTimeEmpvsCivPopJan2018Report

The Household Survey showed an increase of 164K part-time jobs, indicating that full-time employment actually dropped last month.

Dang it.

I’ll put up the Manufacturing jobs graph on Monday.

Comments»

1. Cathy - January 5, 2018

Geoff, can you ‘slpain the discrepancy?

Or at least pontificate on it?

2. lauraw - January 5, 2018

nobody panic

3. geoff - January 5, 2018

Could be Obamacare, still driving employers to hire part-timers. Could be anticipation of minimum wage hikes, which were enacted in many states at the beginning of the year.

But ADP and the BLS normally track each other fairly well, so I expect the job numbers to improve next month.

4. ChrisP - January 5, 2018

What’s really funny about this is that when I drive towards ‘town’ to get whiskey. food, and tobacco, I see “Help Wanted” signs and billboards all over the place. Contractors, roofers, developers, industry, Developers are looking for heavy equipment operators at six figures, and going without. WTF, O?


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