April Payrolls Bounce, Revisions Take March Lower: Hiring Increasingly Volatile

mishtalk.com / Mike “Mish” Shedlock / May 5, 2017 10:54:44

Initial Reaction

Today’s establishment employment report shows a huge, 211,000 jump in reported jobs vs a downward revised March. The BLS revised March even lower, to 79,000 from 98,000. Revisions also took February up to 232,000 from 219,000.

Last month, economists blamed the weather. If so, the correct thing to do is average both months as employees not hired in March due to weather would have been hired in April instead.

The two-month average is 145,000 per month. That’s not a disaster, but it’s not particularly strong either.

The internals of the report as measured by the household survey were average. The household survey shows a gain in employment of 156,000, close to the two-month average in jobs.


Read more ... source: The Bitcoin Channel

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