Wait now pundits should be using two different forms of Job Indicators to help indoctrinate their listeners – PB/TK
The 2 most popular ways to track the US jobs market are telling wildly different stories – By Akin Oyedele / July 6 2017
The US economy added 138,000 jobs in May.
The US economy also added 253,000 jobs in May.
Neither of those sentences has a typo. The smaller number was reported by the Bureau of Labor Statistics, and the bigger number was reported by ADP Research Institute, an arm of the HR management-software firm
The occasional gap between the two metrics has long been a source of contention for economists. But the six-month average, which evens out lots of the monthly volatility and provides a year-to-date view, shows the most drastic diversion in years.
“It is unusual that they would be telling you such different things,” Binky Chadha, the chief global strategist at Deutsche Bank, said. Chadha noted the gap in his submission for Business Insider’s “Most Important Charts” feature. ADP and BLS payrolls “do not tend to diverge for more than two months,” he said. “We are now in six months of what is cumulatively a very large diversion.”
Continue to businessinsider.com article: http://www.businessinsider.com/us-jobs-report-adp-bls-gap-2017-7
