The November jobs report topped market expectations for the seventh consecutive month, showing robust growth at 263,000 new jobs last month. But economists are beginning to notice a divergence within the Bureau of Labor Statistics’ (BLS) monthly snapshot of nonfarm payrolls.
The difference rests in the establishment and household surveys.
Jobs Report: Establishment vs. Household
Last month, the establishment survey of businesses reported the rosy headline figure. However, the household survey, which samples households rather than businesses, recorded a decline of 138,000 positions. Since March, the establishment component has spotlighted solid and better-than-expected employment gains, while the household portion has been flat.
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
