On the Employment Situation Summary – pt. 2

Trying to figure out what drove the 0.2% improvement in the headline number, and I think I found it via the Establishment Survey Employment Situation Summary:

Employment in professional and business services rose by 86,000 in November. Temporary help services accounted for the majority of the increase, adding 52,000 jobs. Since July, temporary help services employment has risen by 117,000.

And this:

There was little change in wholesale and retail trade employment in November. Within retail trade, department stores added 8,000 jobs over the month.

Think what you want to think, but those are not really cheery data points to hang your hat on in my view.

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2 Comments

Filed under finance, government, macro, Way Forward

2 responses to “On the Employment Situation Summary – pt. 2

  1. Russ

    I agree because the underemployment rate(which is rarely talked about) stands at 17.2%. Down from 17.5%

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