January Jobs Report: +517,000, 3.4% Unemployment

Kinda weird that everything you see with your eyes and these reports are opposite

Construction is strange but the contractor market is still nuts from the upswing. I've tried to get an electrician and a plumber and will have to wait three months.

If you’re going to make up a number, make up a big one.

I’ll wait for the adjusted numbers that come out in a couple months on a Sunday morning after a Saturday night mass shooting event

Wow. That adjusted number in a few weeks is gonna be a whopper!

Great news. Trump shadow government doing work!

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If you’re going to make up a number, make up a big one.

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Wait until the inflation report on Feb 14...then it's going to be a made up low number.

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Don't underestimate Joe's ability to frick things up

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Dubious numbers considering January is the slowest month for pretty much everything.

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+517,000

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This was the IRS and FBI hiring more anti-American investigators

BLS News Release

In the NFP report:

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Household Survey Data

Both the unemployment rate, at 3.4 percent, and the number of unemployed persons, at 5.7
million, changed little in January. The unemployment rate has shown little net movement
since early 2022. (See table A-1. See the note at the end of this news release and tables
B and C for more information about annual population adjustments to the household survey
estimates.)

Among the major worker groups, the unemployment rates for adult men (3.2 percent), adult
women (3.1 percent), teenagers (10.3 percent), Whites (3.1 percent), Blacks (5.4 percent),
Asians (2.8 percent), and Hispanics (4.5 percent) showed little change in January. (See
tables A-1, A-2, and A-3.)

The number of persons jobless less than 5 weeks decreased to 1.9 million in January. The
number of long-term unemployed (those jobless for 27 weeks or more) was essentially
unchanged at 1.1 million. The long-term unemployed accounted for 19.4 percent of the total
unemployed in January. (See table A-12.)

In January, both the labor force participation rate, at 62.4 percent, and the employment-
population ratio, at 60.2 percent, were unchanged after removing the effects of the annual
adjustments to the population controls. These measures have shown little net change since
early 2022 and remain below their pre-pandemic February 2020 levels (63.3 percent and 61.1
percent, respectively). (See table A-1. For additional information about the effects of
the population adjustments, see table C.)

The number of persons employed part time for economic reasons, at 4.1 million, was little
changed in January. These individuals, who would have preferred full-time employment, were
working part time because their hours had been reduced or they were unable to find full-
time jobs. (See table A-8.)

The number of persons not in the labor force who currently want a job was 5.3 million in
January, little changed from the prior month. These individuals were not counted as
unemployed because they were not actively looking for work during the 4 weeks preceding
the survey or were unavailable to take a job. (See table A-1.)

Among those not in the labor force who wanted a job, the number of persons marginally
attached to the labor force, at 1.4 million, changed little in January. These individuals
wanted and were available for work and had looked for a job sometime in the prior 12
months but had not looked for work in the 4 weeks preceding the survey. The number of
discouraged workers, a subset of the marginally attached who believed that no jobs were
available for them, was also little changed over the month at 342,000. (See Summary
table A.)

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So the household survey is unchanged essentially for every metric and the establishment survey has the labor force increasing by 517k. Go check out the revisions of Q2 establishment employment numbers. The 1.1M adds were revised down to a reduction of about 350k.