This morning’s hilarious December Non Farm Payrolls report showed the US added just 74,000 jobs for the month. Obviously, the weather was a factor. Then there’s some stuff going on with us losing 16,000 construction jobs and the Labor Force Participation Rate re-touching its cyclical lows once again. Meanwhile, the unemployment rate somehow dropped.
Here’s the funny part. We missed by 90,000 jobs or so, in the meantime the average revision is like 90,000 or so. Oh, and each of these monthly reports are revised seven times before they’re finalized. Oh, and one more thing – we’re talking about a discrepancy of under 100,000 jobs during one 30 day period in the context of an economy with over 158 million workers.
Some additional color, s’il vous plait: