Employment: The Cooked Books of SCAmerica

Jon Economy, Market Commentary

The Bureau of Lies and Scams vomited forth:
Total nonfarm payroll employment rose by 261,000 in October, and the unemployment rate edged down to 4.1 percent, the U. S. Bureau of Labor Statistics reported today. Employment in food services and drinking places increased sharply, mostly offsetting a decline in September that largely reflected the impact of Hurricanes Irma and Harvey. In October, job gains also occurred in professional and business services, manufacturing, and health care.
Suuuure it did.
From the household survey (which is reported from an actual survey of real people) the employment:population ratio declined three ticks to 60.2%. This put us back to approximately April or, if you prefer, last July (2016, not 2017, which was 60.1%.)

This post was published at Market-Ticker on 2017-11-03.