Patrick Heller has a quite interesting analysis of the may jobs report here. Scouring the Bureau of Labor Statistics monthly jobs report, he finds the headlines we saw, like “Largest Monthly Jobs Gain In Past Decade!”, to be more than misleading.
The point of this column is that people often don’t really understand what is happening just by looking at the headlines. I refer to misleading news headlines, like those for this month’s jobs report as “Things you ‘know’ that just aren’t so!”
It will be interesting to see how the Feds handle this going forward. They already know they are going to see over 500,000 jobs disappear as the Census winds down.