Payroll Employment and Seasonal Factors

This might be a good time to review the seasonal pattern for employment. Even in the best of years there are a significant number of jobs lost in the months of January and July. In 1994, when the economy added almost 3.9 million jobs, there were 2.25 million lost in January 1994 (not seasonally adjusted, NSA), and almost 1 million payroll jobs lost in July of that year. This year, in January 2018, 3.1 million total jobs were lost (NSA).   And in April 2018 (last month), almost 1 million jobs were added (NSA).  On a seasonally adjusted basis, the BLS reported 176 thousand......(read more)

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