Boyd Carter
The mainstream media cheered the news that the U.S. economy added 517,000 jobs last month. Sadly, that just isn’t true. According to reports and the St. Louis Federal Reserve, the US economy actually lost 2.5 million jobs in January. Via Rich Dvorak: “The Not Seasonally Adjusted print for monthly change in Nonfarm Payrolls was -2.5 […]
US Economy Actually Lost 2.5 Million Jobs in January – Reported as a “Gain” of 517,000 – Survive the News (www.survivethenews.com)
Posted by Boyd Carter
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Quoting from the article:
“Via Rich Dvorak: “The Not Seasonally Adjusted print for monthly change in Nonfarm Payrolls was -2.5 million jobs. That means the headline +517K employment gain reported in January was driven entirely by a +3 million seasonal adjustment.””