Wall Street

What people and what companies say about employment mean different things

Published by
Miami Herald

Would you believe the U.S. economy lost 315,000 jobs in June? And that it gained 372,000 jobs the same month? It did. So how is that possible? It’s because of how the U.S. Department of Labor collects data for its monthly employment report. The monthly unemployment rate usually gets most of the attention, followed closely by the total non-farm payroll figure. Both are important gauges for the job market, and they are derived from different sources. About 130,000 companies are asked each month if they added or eliminated jobs in the past month. Those answers are tallied to make up the payroll f…

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