Friday, April 7, 2017

March Jobs report - the other survey - the Household survey

The other jobs report – the Household survey

The previous two jobs reports are from the Payroll or Establishment survey.

The Household survey is not where the headline number comes from.  It is from the Payroll survey or often called the Establishment survey.  Interestingly, the unemployment rate and the participation rate are calculated from the Household survey.

This Household survey is poor.  I don’t know which is correct.  I have often thought the Household survey is more responsive to changes in the economy.  That it leads the Payroll survey.  If so, it isn’t a good sign.  We will see.

Here is the number of jobs created from a year ago.

{click to enlarge}

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