May Jobs Report Outshines ADP, But Unemployment Still Rising
The Jobs Recession Has Not Yet Ended
For a second month, the Bureau of Labor Statistics’ Employment Situation Summary reported significantly stronger jobs results than ADP.
Total nonfarm payroll employment increased by 139,000 in May, and the unemployment rate was unchanged at 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in health care, leisure and hospitality, and social assistance. Federal government continued to lose jobs.
This was 102,000 more jobs than in the ADP National Employment Report.
Is this a return to Lou Costello Labor Math? Possibly. We should note that the employment level dropped, indicating a break between the Household and Establishment Surveys.
One ominous sign: Unemployment is still rising.
Rising joblessness means that however many jobs were created in May, more are needed. The jobs recession continues.
How might illegals be impacting the numbers? Anyone credible looking at that?
Bless you for giving us hard data, Peter. But, a discrepancy of 102,000 jobs seems like a big gap. Is this normal, or essentially proof of Lou Costello math?