Where The April Jobs Were

Posted: May 8, 2016 in Uncategorized
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We already know that quantity if the April jobs was disappointing, but what about the quality? Well, on one hand of the BLS reported that based on the Household Survey, in April 253K full-time jobs were lost so there’s that. But what did the Establishment Survey, which is the far more massaged one and thus the one that algos pay the most attention to, show?

  and 22K respectively. The Professional and Business services (which typically includes part-time jobs although we break it out), which saw a 55K increase in April, the biggest move higher for this job group in years.

An interesting rebound was observed in manufacturing jobs, which after tumbling by almost 30K last month, saw a modest 4K increase in April.

On the other end, a surprising drop was seen in government workers, which declined by 11K, while the 8K drop in minin and logging workers was very much as expected as the shale drama continues.

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