Anyone Surprised? Employment Weak, Gov't Employment Gaining Strength

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Harrison Roger
Published on
Updated on

Last month we reported that the 203K employment growth figure shown last month was more of a peak than the beginning of a liftoff for the U.S. labor market.

Based upon this forecast, it comes as no surprise that January’s employment report – up 74K over the prior month – is sharply below what simple moving-average-type analysts thought would happen.

VW Absolute Job Growth Employment

At the same time of the weakening employment report, the unemployment rate came in much better than expected at 6.7%.

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Roger is an economic adviser and active angel investor. He owns various economics firms. His work allows him a diverse group of clients across the globe, including the United States, Europe, and Asia. He holds a Ph.D. in business economics.