To better understand the July Jobs report, one has to understand the seasonal adjustments that the Bureau of Labor Statistics employs.
Nonfarm payroll jobs added in July on a seasonally adjusted basis were 255,000 in July. But the raw or NON seasonally adjusted numbers were -1,030,000 jobs. Or 1.03 million jobs lost.
This post was published at Wall Street Examiner on August 6, 2016.
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