Total nonfarm, not seasonally adjusted, stood at 146.393 million in November 2016. In December 2017 the level was 148.346 million, an increase of 1.95 million.
Seasonally adjusted, the increase went from 145.170 million to 147.380 million, an increase of 2.21 million.
The former figure is 150,000 per month (13 months), the latter 170,000 per month. Meanwhile Trump is claiming 184,462 per month.
These are terrible numbers, including Trump's, which however also appear to be cooked on a bonfire.
In a booming economy, monthly increases well above 200,000 are indicated. That's what we got under Reagan and Clinton, but not now, not by a long shot.
Turn away from these Establishment Survey numbers and consider the Household Survey figures and the picture looks even worse.
Not seasonally adjusted the sum of usually full-time and usually part-time is up just 1.216 million in 13 months. This has been seasonally adjusted up to barely 1.9 million. We're talking 93,500 per month to 146,000 per month, quite the spread. Not exactly confidence inspiring numbers.
The truth is that employment gains have gone soft in 2017 compared with 2016, down about 15%. In the 13 months up to November 2016, total nonfarm jobs seasonally adjusted increased at a monthly pace of not quite 200,000 which was nearly 18% better than under Trump so far.
Trump better hope hiring picks up soon, or this charade will quickly be seen for what it is, all hat and no saddle.
Still waiting for the boom.
