Labor Stumbles Despite Cheery Jobs Numbers (Video)

Given the 33,000 jobs lost on the ADP jobs report, for the BLS to report 147,000 new jobs in the US for June is a bit of news almost too good to be true.

Unfortunately, “too good to be true” is exactly what that number is. While the media on all sides are happy not to look past that top-level number, when we peel back the layers of data we find—surprise!—more Lou Costello Labor Math and more bad news for American workers.

This jobs report isn’t a win for workers, it’s a setback.

Contents

• More Lou Costello Labor Math

• Sector Level Data Is Weak

• Backsliding On Wages

• Joblessness Rising Or Falling?

• Victory Lap But No Victory

Links And Sources

• June Employment Situation Summary: https://archive.ph/sUKWv

• All Employees, Total Nonfarm: https://fred.stlouisfed.org/graph/?g=1CRfE

• All Employees, Total Private: https://fred.stlouisfed.org/graph/?g=1EgDU

• BLS vs ADP, Indexed 2021: https://fred.stlouisfed.org/graph/?g=1IKnp

• BLS vs ADP, Indexed 2025: https://fred.stlouisfed.org/graph/?g=1K1sr

• Total Nonfarm Private Payroll Employment: https://fred.stlouisfed.org/graph/?g=1HJKi

• Employment Level: https://fred.stlouisfed.org/graph/?g=1JuSN

• All Employees, Manufacturing: https://fred.stlouisfed.org/graph/?g=1HLiX

• All Employees, Private Education and Health Services: https://fred.stlouisfed.org/graph/?g=1IJYM

• All Employees, Trade, Transportation, and Utilities: https://fred.stlouisfed.org/graph/?g=1HJTb

• All Employees, Private vs Government: https://fred.stlouisfed.org/graph/?g=1K1q3

• Average Weekly Hours of All Employees: https://fred.stlouisfed.org/graph/?g=1IIXY

• Hourly and Weekly Wages vs CPI: https://fred.stlouisfed.org/graph/?g=1K8mF

• Unemployment Level, MoM: https://fred.stlouisfed.org/graph/?g=1K8JI

• Not In Labor Force: https://fred.stlouisfed.org/graph/?g=1JuUW

• Unemployment Level: https://fred.stlouisfed.org/graph/?g=1K8Jt

• “Real” Unemployment Level: https://fred.stlouisfed.org/graph/?g=1K8L6

• Employment-Population Ratio: https://fred.stlouisfed.org/graph/?g=1JuUZ

• “Charting the Global Economy: US Jobs Data Eases Pressure on Fed”: https://archive.ph/wEHp6

• “Economy adds 147,000 jobs, defying expectations of a slowdown”: https://archive.ph/igvZK

• “Golden Age: U.S Economy Adds 147,000 Jobs, Much Higher Than Expected, Unemployment Rate Unexpectedly Falls”: https://archive.ph/LANE7

• Karoline Leavitt On X: https://x.com/PressSec/status/1940754759784288760

• Donald Trump on Truth Social: https://archive.ph/GRbop

• Department Of Labor on X: https://x.com/USDOL/status/1940752735252762700

• Small Business Administration on X: https://x.com/SBAgov/status/1940805275767971948