🚨BLS reports job market is in fantastic shape but consumers think the opposite

Data is skewed again by seasonal adjustments and low quality of jobs

January 14, 2025

The Bureau of Labor Statistics (BLS) estimates the US economy created 256,000 jobs in December, according to a job report released Friday, January 10. This was way above Wall Street’s expectations of 160,000. The unemployment rate fell slightly to 4.1%, below forecasts of 4.2%.

Notably, the jobless rate is still above its 36-month moving average meaning the uptrend remain intact.

After the report, euphoria took over Wall Street and mainstream media. The devil, however, as always is in details.

In the following sections, we dig into the details of the job report as usual and explain the real picture of the labor market. Below you can find the previous analyses.

🚨November job market report is worse than many think

Please find the job market breakdown of the world's largest economy

globalmarketsinvestor.beehiiv.com/p/november-job-market-report-is-worse

US job market report for October was a disaster

Employment would have been negative if not for historic data adjustments

globalmarketsinvestor.beehiiv.com/p/us-job-market-report-for-october

US job numbers have been revised down by 818,000 for the 12 months through March 2024

Economic data revisions have been much higher than usual over the last 18 months

globalmarketsinvestor.beehiiv.com/p/us-job-numbers-have-been-revised

A FUNKY SEASONAL ADJUSTMENT INFLATED THE JOB’S NUMBER

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